Obama is cleaning up a mess he helped to create or has everyone forgot as a Communitee organizing lawyer he sued Citibank forcing them into HIGH risk mortgages. Now he wants them to bite the bullet and write the mortgages his lawsuit forced them into off to save his political AZZ. Sorry thing is they will probably do it and push their loses off on their paying clients to clean up their bottom line.

http://www.freerepublic.com/focus/news/2101106/posts?page=128
And Sorry Hyp. but I think you forgot one thing the Republicans under Bush warned the Dems (of which Obama was one of) trouble was brewing and they under Frank's advise ignored the warning and pushed forward to destroy the US housing markets.
http://www.youtube.com/watch?v=cMnSp4qEXNM
Republicans may have played a small part in the trouble because they didn't push hard enough to stop the Dems but did they actually have the power base to do anything if the Dems didn't see the wolf on their doorstep and was willing to do something to help the Republicans do something about it?
After the 2000 election, the Senate was divided evenly between the parties, with Republicans retaining the right to organize the Senate due to the election of Dick Cheney as Vice President and ex officio presiding officer of the Senate. The Senate shifted to control by the Democrats (though they technically were the plurality party as they were one short of a majority) after GOP senator Jim Jeffords changed party registration to "Independent" in June 2001, but later returned to Republican control after the November 2002 elections. In the 2006 elections, Democrats won both the House of Representatives (233 Democrats, 202 Republicans) and the Senate (49 Democrats, 49 Republicans, and 2 Independents caucusing with the Democrats
The Dems including Obama had the largest part of this mess on their record but they will never admit it as long as they can pass the buck and blame Bush.
Just like their will never admit they pushed and supported the war in Iraq as long as they can blame Bush for it.
And as long as we forget these comments they will get away with blaming Republicans for everything and taking credit only when it suits them.
http://www.youtube.com/watch?v=Cwqh4wQPoQk