Deregulating businesses means you have to trust them to do the right thing. It's like leaving your house and car unlocked, out of trust.
Actually you don't have to trust them, you just have to allow consumers to chose who to do business with. And that's why your government solution is failure out of the gate. They start by removing choice and then you really do have to trust them, and the only thing you can trust politicians to do is screw you. And screw you they do.
Like that's worked out so well in the past...