@serenesurface-- There actually isn't any capital market in the world that isn't regulated in some way. Technically, governments are not supposed to intervene in the economy but they always do to some degree. And it can actually be in our benefit for the government to do that, although different people have different opinions about it.
Government intervention can sometimes stabilize the economy. But on the other hand, it may allow businesses that actually deserve to go bankrupt to stay afloat in the process, resulting in some unfair competition to other businesses. The US government does this from time to time by saving businesses going bankrupt with government subsidies. Some people think it's a good idea, other's don't. But I can tell you that there isn't a capital market in the world without any kind of government intervention. Is our capital market efficient? Yes, I would say so, although we could be doing a lot better as of 2014.