Okay with all this back and forth in the political fights, let’s get the  actual realities in place. 
Regulations…specifically Federal Government Regulations. 
Why are there so many?  

Simple answer is that when we continually and consistently keep allowing  Big Business to run itself without some kind of third party oversight, we have  recessions, depressions, and sometimes whole scale civil war and  revolutions.
Let’s see…oh yeah the revolutionary War. Hmm…that’s right the Dutch West Indies
Trading Co.  They worked directly  with Great Britain, and the rest of Europe.  They were given all manner of privilege  with our personal freedoms, land, and goods.  And of course we were taxed by a
corrupt government that was in cahoots with what?  Big Business.
Now let’s move forward some more…the great railroad expansion.  Now there’s a great example of big  business, using the government to run amuck.  Our government had given out through
the "Homestead Act", lands for our people to grow food.   Start farms, build communities and so on.  Big business though decides that they  are right minded and all that, and suddenly we have the Right of Eminent  Domain.  Good gosh…suddenly it’s a  holy right to throw people off their lands to make room for railroads?  The infamous bank robbers like Jesse  James became famous and beloved by our people due to this.  
Ranch Owners who paid thugs to burn out homesteaders so they could  control more land for their profits?
Military Contractors?  
Shall I go on?  Each and  every time in our history that we allowed Big Business Enterprise to seize
control of our government we have wound up with massive recessions, and  poverty.  Each and ever time.  The immediate profits were great for  the businesses, but they were always followed by severe economic collapse.  Recessions, Depressions, the rise of  the Anarchist Labor Movement of the 1930’s.  
Each and every time our Federal Government was told by the population  that the government needed to put restraints on the Big Business  Enterprises.  (Remember Enron?  I’ll bet the people who lost their  pensions to them do!!)
The reason behind all the Federal Government Regulations (right or wrong)  is because each time we allow for the Private Sector Business Alliances to move   with impunity, they abuse it.   This results in collapses of our economy, and massive unemployment,  Inflation, and Recession.  In  recent years this happened with Eisenhower, Nixon, Reagan, Bush, and Bush  Jr.  And each time the people
demanded a change of government to more liberal and larger government  controls.  Because when Big  Business is left to it’s own to monitor itself inevitably greed comes into  play.  (Michael Douglas was right  when he said it in the movie “Wall Street.”)
Are we were going to believe that Mitt Romney and his political allies were  going to actually make their political supporters behave themselves?   Come on America…wake up and smell the   fertilizer.

Now I'm not supporting the curent President here in any way.  I'm speaking of the Socialogy of our system.  It's ironic, but see for yourself. Go to Youtube, and search up any documentaries on the Great Depresssion of the 1930's.  Compare what Calvin Cooledge and Herbert Hoover were publically saying during that period.  It's scary.  It sounds like the Radical Right Wing of Congress is borrowing from his speeches, and selling Americashort all over again.

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