Bloomberg like companies employ thousands of people who’s livelihood depends on their salaries. This in turn helps them pay rent and spend money. The economy is interdependent on a lot of such bad businesses. While on the outside we may think this is a scam it would be very difficult to crack them without having mass effects on the population. What happened in dot com bubble or 2008 when these scams collapsed is an example of what can happen when these unethical and illegal companies collapse.
This is of course a capitalist economy where the government cannot provide simple benefits like free healthcare and subsidized higher education in exchange for high competition and high churn rate of businesses and startups.
So the solution is to tame these beasts from time to time and use that as political agenda to win votes and try to keep things sane.
So far it has mostly worked.