You’re downvoted, maybe because people think you promoted the current system (I don’t see that), but what you wrote is technical correct.
The US has less regulations than it used to have, but there are still rules (e.g. laws against insider trading and stock manipulation, labour laws, consumer and environmental protection etc.).
Unfortunately the existing rule are being gamed into oblivion and I’m not saying they are sufficient nor do I deny their decline. I’m just saying it could (and maybe will) be worse than now.