>federal, state and local regulations about the handling of hazardous materials were inadequate
If only we had some sort of regulation that would force regulations to be "adequate". Of course, since they met the legal code, there was no grounds to sue, and you can't sue the government for any reason. Government interference puts in a catch 22. Let the market, including the courts, handle it. Reckless endangerment sends people to jail, and has their belongings confiscated.
>Next you'll be claiming we should allow slavery again
Slavery was enforced by legislation, not by lack of legislation. Without the law allowing slavery, slaves could just walk away. If their "masters" beat them for such, the "slaves" could have them arrested.