Fed Reserve Chair Greenspan admits his Ayn Rand "Atlas Shrugged" deregulation ideology doesn't work

Federal Reserve Chair Greenspan admits his Ayn Rand "Atlas Shrugged" deregulation ideology doesn't work, The markets will NOT govern themselves. begin transcript: Greenspan:"Deregulation doesn't work." Rep. Waxman: "You had an ideology that free competitive markets are the unriveled way to organize economies. you found a flaw in the reality.." Greenspan" I found a flwaw in the model that I perceived was the critical functioning structure that defines how the world works so to speak." Rep. Waxman: "in other words you found that your view of the world - your ideology- was not right (Greenspan: "It wasn't adequate.) - it was not working" Greenspan: "Precisely" Fed Chairman WAS the most prominent follower of Ayn Rand and the Atlas Shrugged deregulation philosophy . He deregulated the financial markets almost completely. This resulted in the largest systematic and systemic financial fraud and financial calamity in the united states history as wall street falsified investments ignoring their long term market health which was supposed to "self regulate" their actions. Trillions were misallocated into investments which collapsed losing almost all value and the wealth of the nation and living standards of the people were lost. What he found instead was if you deregulate people will cheat for short term gain and will completely ignore any supposed self relating long term interests. His ignorance of the most basic history of financial deregulation during the 1920's cost us all dearly as history repeated itself putting the United States into another Great Depression (which just as in the 20's was not admitted until decades later)