This Op Ed today in the New York Times says the obvious:
http://www.nytimes.com/2008/04/03/opinion/03thu1.html?_r=1&oref=slogin#
But it must be said, over and over.
But the Fear of Regulation really is, inter alia,
...fear of Rush Limbaugh;
...hubris;
...fear of being laughed at at the country club, which relates to the above;
...for Bush, fear of Carl Rove (although supposedly he's not "there");
...fear of facing one's neighbors at the cook-out;
...fear of Milton Friedman (although he's not on this earth);
...fear of William F. Buckley, Jr. (ditto);
... fear of Ronald Regan (ditto)