Nonsense. What free market deregulation? The financial services industry is one of the most heavily regulated industries ever to have existed. Government regulation and currency inflation crated this mess. The market had nothing to do with it and is our only hope now.
We thought they were regulated, but they were not else they could not have got away with this fraud...repealing the so called bucket laws allowed this to happen...short trading also played a huge roll.
All kinds of activities are part of "the market." It sounds like you're equating the "market" with the sobering final reckoning and not counting all the "irrational exuberance" and chicanery as part of "the market."
I'm not saying that markets are to blame or free markets caused this, but I don't think one can simply and entirely absolve "the market" from things that happen in market situations.
I suspect "the market" -- that sobering final reckoning and liquidation of the whole mess will solve this, but I can't say that all of the antics that led up to this weren't a part of market activities.