> But we're not in a system that's unfettered from regulations, transparency and oversight. At least not in the sense that we don't have a "government" that purports to provide those things. But the current system obviously doesn't work, so I'm not sure how more government, bureaucracy, rules, regulations, etc. are going to fix anything, when it's clear that certain groups that break the law with (near) impunity.

They break the law with impunity because prosecutors know that, due to out of date and/or weakly stated rules and legislation, they would never get a conviction - an indictment and trial would waste everyone's time, money, and reputation. Because the laws are still not worded well enough to overlap perfectly with the crimes being committed. Hence more legislation and rules.