> Wall Street is heavily regulated, and yet both of your examples still occur. > Neither of your examples show a material change or resolution due to regulation.

I'm not sure how "still occur" became "the same result in both cases" - the latter is an extraordinary claim lacking any evidence.

Are you assuming that regulation is only admissible when it prevents every single event that is contrary to it?

Moreover, we are often seeing cases of regulation theater - the regulations in the books have convenient loopholes or are only selectively enforced, if at all.

Even in these cases it's a serious stretch to claim that the situations with and without regulation are materially the same.