Federal Reserve Chairman Ben Bernanke is speaking out about the current mortgage market situation, insisting, reports Mortgage News Daily, that the mortgage securitization process needs to be reformed:

"[W]e must consider both the part played by securitization in the
mortgage market and the role of the government and government-sponsored
entities in facilitating securitization," said Bernanke.

REALLY? You think?

One of the big factors in the current mortgage mess, leading to the current economic mess, is mortgage securitization, and how the lack of regulation and oversight pretty much resulted in an "anything goes" approach. Mortgage securitization is a perfect example of Things That Need to Be Reformed on Wall Street.

It’s nice that Ben Bernanke (finally) gets it.