Condi's Back in the Bay

Condoleezza Rice says her deepest regret from her time as secretary of state was the failure of the Bush administration to achieve real reform of immigration laws.

Rice made her remarks during an economic summit at Stanford University, where she's a senior fellow at the Hoover Institution.

She said it's ineffective and wrong to "have people living in the shadows."

During her address, Rice also said that it's important to continue supporting emerging economies during the global fiscal crisis to prevent a retreat from the economic principles of a free market society.

She said the downturn could shake international confidence in free trade, fiscal discipline and other hallmarks of the financial system the United States has promoted abroad.

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