@cbae: Wich was first, chicken or the egg?
To quote a famous Niner;
No one put a gun to the head of your politicians to write these laws.
It's a governmental failure, not a market failure. People will always try to get an advantage over other people, it's the nature of competition. The failure is that government let themselves be used to serve the interest of some at the expense of others.
Yes the Government failed because rich guys destroy it in order to make it serve them.