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Does President Obama blame the economic crisis on mortgage brokers?

LinkedIn Town Hall meeting with the President

After taking thousands of questions from LinkedIn members in their special group, the company hosted a Town Hall with the President before a live audience at the Computer History Museum in Mountain View, California.

LinkedIn CEO, Jeff Weiner said in his introduction of the President, “There’s one number you may be less familiar with, and that’s 3.2 million, the number of available jobs in this country — 3.2 million. We have everything we need to begin to put this country back to work — the raw materials, the basic building blocks and, perhaps most importantly, the will of a nation. What we need is the way. With the American Jobs Act, our President is leading the way.”

LinkedIn has very publicly set out to do their part in job creation, as they have partnered with Startup America Partnership to “help founders of young businesses manage their professional identity, connect with the right talent and access advanced tools to help them grow their businesses. LinkedIn will be making a donation of up to 100,000 free subscriptions to Startup America Partnership entrepreneurs – a value of $5 million.”

How the President pointed a finger of blame

While most of the speech and answers to question was primarily made up of language the nation has become familiar with as Obama travels the country advocating for his American Jobs Act, but we found a line that seemed to quietly blame mortgage brokers for the plight of “Main Street” America.

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President Obama said, “And the fact of the matter is, is that if what happened on Wall Street ends up having a spillover effect to all of Main Street, it is our responsibility to make sure that we have a dynamic economy, we have a dynamic financial sector, but we don’t have a mortgage brokerage operation that ends up providing people loans that can never be repaid and end up having ramifications throughout the system.”

It isn’t blatant, but the finger of blame is obvious to any sharp listener.

Video of the full Town Hall meeting:

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Tara Steele is the News Director at The American Genius, covering entrepreneur, real estate, technology news and everything in between. If you'd like to reach Tara with a question, comment, press release or hot news tip, simply click the link below.


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