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They want to be regulated because regulation is protection. Companies that have a constituency in the government tend to have their voices heard. The bureaucracies protect their own. A bureaucrat needs to protect the entity s/he is regulating or s/he's out of a job. PM understands that. The tobacco companies' situation had gotten to the point that they need regulation to survive, or at least to avoid having to drown in litigation.
That's my objection to state-lovers - there are always unintended consequences.
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