Breakdown in the free market system?

In this article, contains a quote from Alan Greenspan that says:

Greenspan, who stepped down in 2006, called the banking and housing chaos a
"once-in-a-century credit tsunami" that led to a breakdown in how the free
market system functions

I'll admit I may not fully understand the depth of this "financial crisis", but I am tired of people saying the free market failed. We do not have a free market. Our government's hands are all over the latest problems and the solution is to add more government interference. The free market has not been free to function in and of its own will in quite a long time in this country.

I am thankful to live in a country where we are free, but I am greatly saddened by what we are leaving for future generations. Previous generations left us welfare and social security among the many great programs that are now failing. We are generating more of the same to correct issues generated from past decisions.

We can argue why goverment programs fail, but what it boils down to is that government programs are quickly abused and they often if not always run into financial problems. Our government needs to be drastically shrunk rather than simply slowing its growth. I see no hope for this occurring anytime soon.

The one thing I am most thankful for is that God is the one who gives government's their authority. We have the luxury to debate the ignorance of decisions made in our government without fear of penalty, and by the grace of God we have the promise of eternal life that renders everything I've written above inconsequential in the long run.