DENVER -- Critics of the $700 billion bailout plan for Wall Street say it comes to the rescue of the wrong people.

Members of the community activist group ACORN protested in front of the Federal Reserve Bank in Denver and other locations around the country on Tuesday.

They said the bailout should go to homeowners who were ripped off by fraudulent mortgage brokers.

Among the group was Linda Medlock who nearly lost her home because of hidden costs when she refinanced her home.

"The money shouldn't be coming from us. The money should be coming to us, not to the investors," she said.

But not all the brokers who helped create the crisis are walking away unscathed.

"There is absolutely a punishment for these people," said Erin Toll from the Colorado Division of Real Estate.

Armed with new laws that require brokers to be licensed, the state has cracked down on fraud and issued heavy fines.

Since the start of the year brokerage licenses have been denied to 90 people, most of them with criminal convictions.

At least 35 brokers have been disciplined and $465,000 in debt has been levied.

The state attorney general's office is investigating at least a dozen criminal cases.