If Rand Paul has his way, we'll end all regulating of business. Same with a former pro football player in my state, running against Patty Murray. Get rid of 'em all, he says. Ditto John Boner, Mitch McConnell, and Sarah Palin, who's against regulations except when she's not. (Okay, let's give Sarah a pass: she really has no idea what she believes (except in faith healing.))
...[S]uccessful regulation, by filling information gaps and managing risk, fosters confidence in the safety and honesty of markets, which in turn makes them bigger and more robust. The pharmaceutical industry, for instance, would be much smaller if people were seriously worried that they might be poisoned every time they took a new drug. And though executives chafe at financial regulation, the protection it provides makes investors far more likely to hand them money to play with. If we want our regulators to do better, we have to embrace a simple idea: regulation isn’t an obstacle to thriving free markets; it’s a vital part of them.
And yet our country is steeped (get it?) in teabaggers demanding the return to every policy that got us where we are. In our history -- and it's not like you have to go very far back for examples -- there are countless examples of deregulated industries going wild to the detriment of our economy and to the harm of consumers. Are there really any examples of the opposite; of over-regulation causing such economic (and ecologic) violence as we've just seen?