Have any noted "free market, deregulation" advocates changed their tune?

[Maeglin]

@Shalmanese

One thing I’ve never seen pure free marketers answer adequately is how the free market can deal with prisoner’s dilemma style situations. The cause of our current financial crisis stems can be fundamentally reduced down to a prisoner’s dilemma. Each party rationally did what would maximise their financial gains but which the end result was massive financial losses.

The one word answer is institutions.

For what it’s worth, the current crisis was not a prisoner’s dilemma.