Let's not forget Condoleeza Rice

http://www.pcworld.com/businesscenter/article/172252/condoleezza_rice_stumps_for_capitalism_at_sap_event.html ^

[mimi from mi]

Friday, September 18, 2009 1:00 PM PDT Former U.S. Secretary of State Condoleezza Rice, speaking at an SAP event Thursday, defended American-style capitalism against charges that it led to the global economic meltdown.

The crisis has spurred a backlash against capitalism, Rice said, but she argued that recovery depends upon "a refocusing and reaffirmation of that very model of democratic capitalism that is now under attack."

http://www.pcworld.com/businesscenter/article/172252/condoleezza_rice_stumps_for_capitalism_at_sap_event.html

[Brilliant]

It was not capitalism that caused this recession, but government. The real estate bubble was caused by government housing subsidies and affordable housing policies.

[mad_as_he$$]

NO - let’s forget Condi.

[tet68]

It’s too bad this sage advice is not coming from the
current administration.

[doc1019]

So much potential, so few scruples.

[eyedigress]

The likes of ACORN suing Chase Mortgage and others in the 90’s to relax lending standards has Obama written all over it.

[madison10]

Miss her, too. A real lady and scholar.

[livius]

Actually, I had forgotten her altogether, although I liked her a lot initially, before it seemed that she too had been terminally corrupted by RINOitis and was even more of a RINO than her boss.

She’s a very smart woman and I hoped that she might be President one day...until her inner RINO emerged, at which point I lost interest.

I think Rice’s biggest problem is that she’s pro-abortion, and I think this is the thing that has prevented her from really confronting the Dems as she should have. She could demolish them intellectually. But she’s in thrall to them over the abortion issue.

It’s more of a spiritual crisis than an intellectual crisis.

[353FMG]

>>It was not capitalism that caused this recession, but government.<<

.
Never heard the saying that anything government touches turns to $hit? The proof has been staring us in the face for half a century.

[Blue Jays]

Hey, that's racist.
Wait, I mean sexist.
Both? Oh shoot, she worked for a Republican administration? Oh, noes!

[givemELL]

CAPITALISM requires.......capital. We have been a Debt-Based Capitalist System since 1971 when we began borrowing money to fund our monthly deficits. Instead of dealing with insolvency which occurred before we actually got out of the war, we simply began to borrow. Then with the advent of proprietary credit derivatives, banks gradually, from the nineties to the present, overleveraged themselves fatally for the nation. Capitalism was never at fault. Now, greed of banks for proprietary derivative profits which had nothing to do with the economy has been dumped on the taxpayers beyond their desire or capacity to pay. The US now demands the World loan the US more than it has or desires to loan. The Fed and Goldman Sachs (derivatives centered here under Paulson and spread to all other major US banking institutions) were seminal to the origin of the problem.

Now, Volcker states that the derivative exposures must be brought to light,...lots of luck!:

http://www.senseoncents.com/2009/09/volcker-launches-bombshell-on-wall-street-and-washington/

Also, here is a 4 page article by Henry Liu on the origin and destruction of debt-based capitalism:

http://www.atimes.com/atimes/Global_Economy/JG22Dj06.html

And, finally, the current status of the US GDP and Debt problems a few days ago by Denninger...a short and detailed piece of consequence:

http://www.youtube.com/watch?v=m1VbGcaVvFM&NR=1&feature=fvwp

Capitalism did not fail...our Central Bank, derivative promotors exceeding 10:1 leverage levels failed, politicians failed by eliminating the laws which had existed to prevent the derivative speculations form occurring and allowing them to proceed...it was Clinton time then.

[himno hero]

If I uderstand it correctly, it started with Clinton pushing houses for anyone even those who could not afford it. It allowed government to step in to the bankers realm and allow loans against bankers prudence. So it was not free market capitalism that brought it down it was pure government intervention. Government playing banker.

Bankers on their own would never lend on a ninja.

And then all that money had to go some where ... so then we can talk about velocity of money and the multiplier. With this there was needless to say a huge expansion in the money supply. The money had to find a home.

When obama triples the debt, a similar thing will happen.... excepting the results will be far more severe for the common man. America and its dollar will be destroyed. IMO

[stripes1776]

NO - let’s forget Condi.

I second that. She is incompetent.

[FreeKeys]

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[publana]

I miss her and still admire her.

As for abortion, my stance on it is changing. Every time I turn on the TV, I think of how different this country’s situation would be right now if certain mothers would have chosen abortion instead of giving birth. It seems to me that babies growing up in loving, caring 2 parent homes are less likely to plot and plan all their lives to destroy the country.

I’m joking. I think.

[SunkenCiv]

...defended American-style capitalism against charges that it led to the global economic meltdown.

for "capitalism" read "market based economy".

[HiTech RedNeck]

By democrats and RINOs.

[blasater1960]

No thanks...condi is an arabist rhino. Long forgotten already.

[jonrick46]

I look as the derivatives market as a highway upon which rode the economy. I would not blame those who used the highway. When the highway became crowded, the chances for crashes increased. Those who crowded the highway were not greedy; they were only dependent upon it for their livelihood. It was those who allowed the highway to stay the same, without improvements, who caused the crash. There are numerous highways that facilitate Capitalism. The derivatives market is one highway that failed because of a design flaw. It is the design flaw; not Capitalism that needs correction. When the highway failed, the supply of capitol failed too. Capitol is the gas that makes things go down the highway. The failure of the Obama Administration was to restrict the production of new capitol. by rolling back taxes and regulations. One good start would be to enable drilling for oil in this country.

[irishjuggler]

She's also a likely Obama voter. See:
http://blogs.telegraph.co.uk/news/tobyharnden/5939527/Did_Condoleezza_Rice_vote_for_Barack_Obama/