"I found a flaw in the model that I perceived is the critical functioning structure that defines how the world works, so to speak."

The history books aren't going to look too good for Alan Greenspan. He will probably go down as the man most responsible for this global financial crisis. He'll get credit for both the housing bubble and the debt crisis for keeping interest rates low and successfully blocking regulation on derivatives.

At least he's honest though. Hopefully now that the strongest supporter of deregulation has realized it doesn't work, the whole objectivist / neoliberal / reganomic theory will be put to rest.