Really? Would that apply to the oil industry?, The homeopathic industry?
Oh, wait the latter is not regulated, yet. They do such a wonderful job.
Nothing prevents the oil industry from creating more rigorous rules that they would follow on their own. Oh, wait, it would never happen, they want less regulations, pollute the environment, the masses, who cares about oil spills.
Or for that matter, the power companies?
I suppose private industry would do a super job on their own, right?
We don't need no stinklin regulations.