Got it, ignoring the laws is the excuse. It has nothing to do with government oversight. Let pull all the police off the streets and then if someone gets killed it isn't the lack of oversights fault, but that people disobeyed the laws. Some people are always going to ignore laws and regulations. So you can accept that or you can expect someone to enforce those laws and regulations.
Lack of a fire department would also mean smaller government too. Of course you may want some government involvement when your house is on fire.
With any government oversight, Enron could have been caught. Yes, both Arthur Andersen and Enron were misleading investors. However, if anyone with the SEC commission would have taken more than a superficial look at Enron’s Balance Sheet, then they would have found the discrepancies long before Enron had milked investors of billions. Hell if, Senator Phil Gramm R co-sponsor of Gramm-Latta Budget and husband of Wendy Lee Gramm who was on the board of directors of Enron and the Audit Committee, would have looked at the books, he should have been able to spot the discrepancies. I know because as a lowly grad-student from some backwater university near Houston I did my thesis on the scandal and I was able to spot the discrepancies in their SEC files for the 10 previous years enough to make an A.
What would have happen if inspectors would have actually inspected the rig and seen the cost cutting measures that violated safety codes before the blow out? With BP record in the gulf coast area, especially the Texas City Plant, government inspectors should be inspecting them constantly.
Point is being in favor of police on the street, food inspectors, or government oversight does not make someone a Socialist!