Either ignorantly or intentionally, Obama failed to mention that the Palestinians could have had a nation-state of their own at any time from 1948 on but chose instead to follow terrorists - posing as leaders and friends of Jimmy Carter - thus ensuring a life of poverty and violence.
The American President did a great disservice today not only to Israel (our only real, democratic ally in the middle east), but also the Palestinians. By watering down the truth in a vain effort to "share the wealth" of blame he ensured that those who perpetrate violence won't have to take responsibility for their acts and allowed them to keep hiding beneath a burqa of feigned innocence.
Finally, Obama kicked the chair out from under his own nation by declaring that America won't be taking a firm stand against the Arab nations such as Syria and Iran and groups like Hezbollah, Fatah, and Hamas as they seek the ultimate means to destroy the very land they claim.
These are two good articles on B. Hussein Obama's speech:
Obama in Cairo
Barack Obama and the Moral Equivalence of Holocaust