Obama doesn't get roots of crisis

A genuine explanation of the financial crisis must take into account all the facts. What role did the Fed play? What about Fannie and Freddie? To be sure, some companies and CEOs seem to have made irrational business decisions. Was the primary cause 'greed,' as so many claim--and what does this even mean? Or was the primary cause government intervention -- like artificially low interest rates, which distorted economic decision-making and encouraged less competent and more reckless companies and CEOs while marginalizing and paralyzing the more competent ones?

How does all this evidence factor into Obama's understanding of 'how we arrived at this moment'? It doesn't. Not once, during the solemn 52 minutes and 5,902 words of his speech to Congress did he mention the Fed, Fannie or Freddie. Not once did he suggest that government manipulation of markets could have any possible role in the present crisis. He just went full steam ahead and called for more spending, more intervention and more government housing programs as the solution.