The impulse to regulate derives from the human tendency to live in hierarchical societies, such as monarchies. It's been a long time since we developed governments other than monarchies, that work by assuming people are corrupt and constructing a system that makes it unlikely for anyone to be especially oppressed. But our instinct is always to forget that is how our government works, and think our problems can be solved by getting the right person as president, CEO, or whatever.

(Why has no one developed a democratic corporation?)

Exactly the same tendency makes us instinctively think that problems should be solved by having a (problem domain) king who solves them.