Mika: With More Women In Charge, Wall St. Meltdown 'Simply Would Not Have Happened'

By Mark Finkelstein | July 28, 2010 | 06:16

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If only women ruled the world . . .

Striking a blow for her sex, Mika Brzezinski today claimed that the Wall Street meltdown "simply would not have happened" if more women had been in charge.

The Morning Joe co-host was reacting to news that the Dems managed to slip into the recently enacted financial regulation bill a provision--authored by Rep. Maxine Waters--that would create "at least 20 new Offices of Minority and Women Inclusion" with the power to kill government contracts with financial firms not meeting new "diversity standards."

Tina Brown seconded her sister's sentiment, blaming the financial industry's woes on "all this phallic obsession."

What's good for Wall Street is presumably good for Washington, too. Mika Brzezinski--founder of Feminists For Palin, perhaps?

Jim Vandehei kicked things off by referencing a story in his Politico.

JIM VANDEHEI: There's a provision that really was missed by just about everybody when the bill was, when the finishing touches were put on, that gives the government broad new powers to mandate that Wall Street firms hire more women and minorities. And this is just starting to bubble up as a big controversy on the right, because even Olympia Snowe and other members who were involved in the negotiation weren't even aware that this 1261-word provision was as broad and significant as it actually is, now that it's set in law.

WILLIE GEIST: So what's the, can they make any political hay out of this? Is it going to catch fire in Washington?

VANDEHEI: I think it could. Republicans are saying this is sort of going back to the days of quotas and mandates. They thought that debate had been settled. But if you look at the language, there's 20 new government offices that will be created that will force Wall Street firms to hire more women and minorities, because the Government Accounting Office has found that over the last 15 years, Wall Street has a real bad track record of getting beyond white men.

MIKA BRZEZINSKI: Yes, and you know what? --

GEIST: Twenty new government agencies: just what we need.

BRZEZINSKI: If I may, Jim? Don't you think that the Wall Street meltdown just simply would not have happened had there been more women? I believe that.

TINA BROWN: I really do. I mean, all this kind of phallic obsession.

BRZEZINSKI: Exactly!

BROWN: I just think that women tend to look at it from a different point of view. That doesn't mean women can't be just as driven by money, but they have more of a kind of EQ [emotional intelligence] moment.