That was self-regulation. That was the self that the regulations allowed for.
Discussion
Besides, the state writes reams of regulations for hospitals. Ever worked at one? I have. Nothing but useless paperwork.
No i didn't but i know about these regulations you are talking about. These are regulations to comply with the private profit.
The situation has been saved by intervention, and the tax payers money. That's not self regulation also by definition. You are not right on this. Search it.