> The externalities that some businesses can impose on the public are so large that the public MUST have regulatory powers. If that encourages corruption we hav

> The externalities that some businesses can impose on the public are so large that the public MUST have regulatory powers. If that encourages corruption we have to prosecute the corrupt, not weaken the oversight. You're confusing "MUST" (actually SHOULD) with "CAN". Look into regulatory capture. You can't ignore it or legislate it away any more than you can ignore or legislate away gravity.