As a litigator, I appreciate the sentiment, but litigation is ineffective at enforcing the rights of large numbers of people. Say there are no bank regulations, and a bank skims $100 of the accounts of ten million customers. The bank makes a lot of money, but it's not worthwhile for any given individual to sue. Your only recourse is the class action lawsuit, with all the limitations that entails.

The situation is even more problematic when the injured parties are not in contractual privity with the wrongdoer. If a coal plant in Chicago causes $1,000 of health damage to each resident, that's a multi-billion wrong. But unlike with a bank, the residents can't simply decide to do business with a different company.

There's a lot of money to be made doing two things: 1) selling people more risk than they think you're selling them; 2) foisting risk and costs onto third parties that aren't in a contractual relationship with you. So long as you do these things to a large number of people with a relatively small dollar value for each injury, you'll make a lot of money at it, and the legal system isn't great at stopping such behavior.