A fair point, but the government regulation was a response to corporate abuses. There's a discussion to be had about the efficacy of this particular regulation, but zero regulation and letting corporations run free is not a better solution.

In an ideal world governments are accountable to a well-educated populace and enact the will of the people to rein in the excesses of the greedy and powerful. Of course that is not how it currently works, but that is the ideal to strive for.