Last time I checked regulatory failures were not products of capitalism but of a mixed economy. Considering this is pretty transparent agenda pushing I'm certain very few economists would take it seriously. Fraud and collusion can occur in any economic system though I would argue they occur more the more centrally planned an economy is, at least according to all the times centrally planning has ever been attempted. The alternatives to capitalism usually result is mass starvation, black markets (AKA capitalism), or collapse / revolution.
What we should focus on is preventing fraud and making capitalism more stable by bringing back the separation of commercial banking (the primary source of money creation) and Investment banking (AKA bringing back Glass-Steagull). This combined with a strong social safety net (reverse income tax on the poor in place of welfare, keeping food stamps, something resembling universal healthcare in place of our military spending, etc), a flatter simpler tax structure that gets rid of tax breaks on real estate, and other things, while lowering taxes overall and broadening the tax base, and an independent federal reserve that can only conduct monetary policy via government bonds not private security markets or mortgage markets would go a very long way to decrease business cycle fluctuations, or the frequency and severity of recessions. If we separated traditional banking from investment banking again too big to fail would cease to exist, and most of the issues involving collusion between private and public entities would end.