Last week’s Virginia Chamber of Commerce conference was focused on the future of Virginia and business, but it quickly elevated into a broader examination of the future of our country. No surprise here that Virginia’s distinction as the cradle of democracy is serving as the lightning rod for the defense of liberty and its mate free enterprise as well as a well-timed pushback on over-regulation that stifles innovation and creativity. Based on the state chamber’s confab at the Richmond Marriott on Wednesday, Virginia’s passionate business community is adding to the alarm that capitalism could well be at a crossroad.

BB&T Corp. Chairman John Allison blames government policy for the cause of the financial crisis and says U.S. “will be a Third World country in 20 years” unless direction changes.

Stabilizing the real estate market is key to ending this financial crisis, a banking executive told the World Affairs Council of Greater Richmond. John A. Allison IV, chairman of BB&T Corp., spoke to about 200 people at the Omni Richmond Hotel last night. Allison, 60, spoke about the financial crisis, its causes and possible cures.