Well, sort of. According to this report from Charles Bremner in the Times:
With Russian tanks only 30 miles from Tbilisi on August 12, Mr Sarkozy told Mr Putin that the world would not accept the overthrow of Georgia, Mr Levitte [Sarko's chief diplomatic advisor] said.
"I am going to hang Saakashvili by the balls," Mr Putin replied.
Mr Sarkozy responded: "Hang him?"
"Why not? The Americans hanged Saddam Hussein," said Mr Putin.
Mr Sarkozy replied, using the familiar "tu": "Yes but do you want to end up like (President) Bush?"
Mr Putin was briefly lost for words, then said: "Ah, you have scored a point there."
...President Mikhail Saakashvili, who was in Paris to meet Mr Sarkozy today, laughed nervously when a French radio station read him the exchange. "I knew about this scene, but not all the details. It's funny, all the same," said the Georgian President.
So there you have it: George W Bush the Inadvertent Peacemaker.
Alternative scenario: Putin is Marlo Stanfield while Sarkozy plays the part of Proposition Joe.
[Via Foreign Policy]