Regulatory capture is THE problem.
This is difficult for me to understand. Are you suggesting that if nuclear power were completely unregulated, Tepco's behavior would've been more virtuous (as I read it, totally virtuous)?
Or is the claim that regulation made the problem somewhat worse, and this margin (between how bad the problem would've been without regulation and how bad it was with regulation) is the only part that would even be humanly possible to rectify?
Because if I owned the plant and I didn't have any regulators to deal with, I would think it in my interest to behave even worse: to lie more, to hide more, to be even less concerned about doing a thorough job of preventing the public's exposure to regulation.