Greenspan and the Free Market: On the Rocks?

Jon Chait wonders why Alan Greenspan's acknowledgment of the market failures that contributed to the present banking crisis wasn't bigger news. After all, it was like if Dr. Ruth had suddenly advocated abstinence. I know he wasn't talking about attention from Mexicans, but for what it's worth, Greenspan's testimony was on the front page of Excelsior today.