For a long time the idiots would say,"Well who cares if the corporations buy off the government? The corporations need the people to survive so they act in the people's best interest."
For a long time the idiots would say, "Well who cares if government regulation harms corporations? The government needs to regulate so that the corporations will act in peoples best interest."
Except we find that when you attack a group they don't just sit their and take it. They defend themselves. In this case they first defend themselves by influencing government to not harm them, and then since that influence came so damn easy they leverage that influence for offense as well as defense.
Since a never ending series of honest regulators is impossible (surely you admit it) then each additional regulation has its own chance to be a corrupted regulation. Now even if the probability of a particular regulation being corrupt were quite small (and surely you admit that the probability is higher than you are comfortable with) then the effect of having extremely large numbers of them guarantees that there exists large numbers of corrupted regulations.
15 years ago the official listing of all federal regulations in effect, contained a total of 134,723 pages in 201 volumes. Thats just federal.
Since the real problem is that not all regulators are honest then clearly we both thus conclude that the problem is not solvable by regulation. The problem is only solvable by identifying and booting corrupt regulators before they can regulate. All these shallow attempts to place the blame on corporations falls short of the problem.