This is it right here. I can be convinced to be somewhat sympathetic to the view of excessive regulation, and ineffective bureaucracy ... however, I certainly can't be convinced that it's wholesale not necessary. Bad actors can and will take advantage of people, and it needs to be reigned in by "something".

I refuse to believe that we can't achieve a balance ... when there's too little regulation, add more. When it becomes too onerous, pare it back. The thing that seems to be missing is that balancing force. The body's immune system is important for regulating and protecting bodily functions, however when things go wrong, they go very wrong (auto-immune diseases, etc); I feel like that's where we are right now.