[thereisnospork]

>Maybe that's what I'm saying: why not just allow any random chemical to be given to people (without intention of standards-body registration) as long as the prescribing doctor is willing to do clinical-trial-like monitoring for adverse side-effects?

Snake oil, first. Imagine if e.g. Herbalife could claim their pills cure cancer? Good luck getting signal through all that noise.

Second, the inevitable democratic anger of the masses when the next 'cure for the common cold' (which I'd be happy to sell you, btw) starts killing people.

Not to say there aren't (large) improvements possible to the regulatory process, but the process itself exists for some very important reasons.