If people are getting 'fleeced' in the corporate bond market, they deserve it because they should know better. Corporate bonds are traded mainly by institutional investors and professionals, not retail like shares are.
We learned this lesson the hard way twenty years ago. If we let them invest in dogshit, and the credit rating agencies allow them to, they will.
When institutional investors lose, they’re not really risking their own money. They’re risking yours, or at least your cousins or your neighbors.