What incentive do the regulators have to regulate?

How can they regulate an industry that they do not understand as well as those in the industry.

How much are they going to regulate those that give money to their campaigns?

Perhaps the governments regulation and stamp of approval allows companies to take more risks as the risk they take may not be under the umbrella of government regulation.

If our federal officials were more personally liable for their actions as we are in the private sector perhaps things might be different.
I realize this has complications.