Is more government regulation good for private business?

I would say it would for sure.There would be more assurance that business is carried on more honestly and ethically.As we have seen with the mortgage and banking industries without a great deal of government regulation only the citizens get hurt.Honest businesses will get a fair shake,so to speak.

The government can't regulate it's own affairs so I don't see how it can be good for private business.

What we saw in the past decade is changes in banking and financial laws that permitted all types of new financial instruments and investments that were beyond the regulatory structure in place. There were no regulations governing the derivative security bonds or collateralized debt obligations packaged from bad mortgages and the credit default swaps created by such firms as AIG to insure the bonds. There were also no SEC restrictions to prevent firms from over-leveraging themselves to invest in these very risky securites. As a result, when the real estate market crashed, the bad investments and debts crashed, causing our present banking and financial crisis. The lesson we learned is that you need rules and regulations in place to prevent abuse in the banking and financial world. It's like with any sport- you have to have rules to maintain a level playing field and a referee to apply the rules.

I agree.
It's unfortunate so many leaders have their positions by seizing opportunities rather than them being virtuous.

Which is why the government should make a better attempt at making their activities more transparent (aka less-corrupt) to the public.
Too bad political jargon continues to mask the truth and political red tape still prevents progress. Jargon might be silly if it were not crafted to deceive the public and red tape would simply be annoying if politicians and businesses alike could not avoid accountability through it.

I doubt many politicians have enough humility and courage to explain, propose, and expose their plans completely/impartially and admit to the faults that exist within it is scrutinized.

It's nice to dream but until more political leaders are willing to be more objective we are stuck with the stronger of the two evils. (Not even the lesser of the two since influence = political strength)