I agree US dislike of regulations is understandable becuase of the cost it adds but they let things go to far.
Subprime mortgage crisis is a good example they gave an inch and the banks stole miles.
The banks were told by the regulators to give out this loans and the government even invented the scheme to cook the books. More like partners in crime than dereliction of duty.
The US dislikes regulations? Since when? It has one of the most regulated major economies. With banking being arguably the most regulated industry.
Federal regulations have gone from 20,000 pages in 1970, to 80,000 this year. With a 60% increase just since 1990. The US loves regulation. And that's just at the Federal level, there's an entire government system nearly the size of the Federal Government at the State level.