I'm not trying to argue against regulation. I just find it rather strange to have this dig against people calling for deregulation when, in this particular case, nobody asked for deregulation and the incident could, at best, be construed as a weak argument against regulation [0].

[0] "Excessive certification requirements made parts far too expensive, which made people willing to take the risk on counterfeit parts." - Note that I do not think we should deregulate aircraft parts, but this would be a valid point.

Regulatory capture happens more often with greater regulation. More regulation = more funding required = more labor needed to perform; more money, more labor demand = more political power; money funnels into those managing agencies through third party avenues as a means of buying power and before you know it the regulation is just another barrier to entry that allow existing corporations (often the ones who craft the regulation) to consolidate their industry.

Then we get things like the Horizon Deep oil spill.