Greenspan and perfectly competitive financial markets

More than anyone else, Greenspan enabled deregulation of financial markets through his belief that they were inherently perfectly competitive.  In 2008, around the time that Yves Smith was beginning to write Econned, Greenspan was repenting of his blind allegience to deregulated competition.  But he has since changed his mind as this recent op-ed piece shows.  Perfect competition works and if we think otherwise, we must be wrong.