Obama on the mortgage mess

I think it's very brave from a politician to come out and declare that the government should do something because, from his point of view "our government failed to provide the regulatory scrutiny that could have prevented this crisis."

However, he misses completely the point when he says that (the government needed to) "stop the unlicensed, unregulated, fly-by-night mortgage brokers who are hoodwinking low-income borrowers into loans they can't afford".

This crisis was not created by "unlicensed, unregulated mortgage brokers"! This crisis was created by the most important financial institutions of the country.

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