Greed is a flaw of the human condition not capitalism
And some are more greedy than others - so that is hardly a defense of greedy capitalists.
It is well documented fact the innovation and progress is always been greater in a capitalist system, as well research shows that because of capitalism extreme poverty worldwide has declined by 80% between 1970 and 2006.
I think that that "80%" figure you have is skewed - the largest drop is due to China which the greedy captialists have exploited and built up to their benefit while industry in the West suffered.
It is also a well documented fact that when the means of production and distribution are under state control, creativity is stifled, people are in not incentivized, the nation remains stagnant and more people remain poor.
See this is typical, state control vs capitalism - no middle ground. YOU live in a country with a mix of socialism and regulated banking, and that was the reason Canada didn't suffer like other economies.
You need to understand the difference between invention/entrepreneurship and greedy capitalists.
It's too bad that Obama yielded to pressure prop up the US corpse with bailouts - but then corporate welfare is not socialism is it?
That's the problem with sheep - the wool is easily pulled over. . .