Lenin described this exact process a century ago: https://en.wikipedia.org/wiki/Imperialism,_the_Highest_Stage...

The 'choice' is an illusion. To quote Lenin, the state becomes the 'executive committee of the financial oligarchy.'

The refusal to regulate isn't a a choice or a policy failure; it's the inevitable outcome of the system.

well my mother was born in the USSR, so I don't have to accept Lenin's position because my people suffered his "inevitable outcome of the system" for the choices he made.

I'd rather fix up this existing system then day dream about a glorious socialist revolution that always seems to end in blood.