I don't follow your argument. Are you saying the government's failure to prevent those three things from happening somehow proves regulation is worthless? Or

I don't follow your argument. Are you saying the government's failure to prevent those three things from happening somehow proves regulation is worthless? Or are you just pointing out that individuals in the private sector were able to figure these things out before any government agencies? It certainly doesn't appear that the private sector was able to prevent those three things from happening, so I can't see how your conclusion follows from your argument.