Greenspan gets a clue after the damage is done

From Greenspan Concedes Error on Regulation in today's New York Times:

Facing a firing line of questions from Washington lawmakers, Alan Greenspan, the former Federal Reserve chairman once considered the infallible maestro of the financial system, admitted on Thursday that he “made a mistake” in trusting that free markets could regulate themselves without government oversight.

Whoopsie!

Referring to his free-market ideology, Mr. Greenspan added: “I have found a flaw. I don’t know how significant or permanent it is. But I have been very distressed by that fact."

Oh no, he's *distressed*. Well, fuck me with a chainsaw, it sounds like the poor man is suffering! Everybody should be so concerned about Alan Greenspan's legacy while we pick up the ruins of our financial system and economy. I am not sad to see that irrational cult of personality come to such an ignominious end.