> But who regulates the regulators? As bad as this example is, have you never heard of the nightmares people fall into dealing with government bureaucracies? If

> But who regulates the regulators? As bad as this example is, have you never heard of the nightmares people fall into dealing with government bureaucracies? If anything, they're much much worse than the worst that companies inflict. I think that last sentence could only be honestly written by someone who's lived their whole life in a society protected by strong regulatory structures. The massive benefits of regulation are taken for granted and forgotten, but the problems of implementation that still exist are magnified out of proportion. Government bureaucracy is certainly not perfect, but lets not kid ourselves that it's worse than the alternative. And the answer to your question is: a functioning legislature that's accountable to its constituents, and competently exercises its oversight role. > Regulatory capture is a real thing too. But rather than a call for less regulation, it's really a call for better oversight of the regulators.