There is no magic hand, only a Tragedy of the Commons and greedy individuals doing whatever. (Federally, there is at present time little-to-no prosecution of fraudsters or tax cheats. Economically, it's basically The Purge.)

Appropriate regulations and enforcement is what is missing but ⅔ of country is brainwashed by billionaires and Fox News that "gubberment bad" and "regulations are communism".