Regulation does help. Up here (Canada), we got through the 2008 meltdown quite well, at least as far as primary effects went, because our banks are regulated. (Couldn’t entirely avoid the knock-on effects of a slowdown in our customers’ economies, though.)
We don’t have quite the same money in politics problem either. (Our biggest problem is a first-past-the-post riding system that negates the popular vote to an extent. I think you share a similar problem with Congressional districts.) We regulate our election spending quite strictly, which means that most elections are limited to the 36-day minimum campaign length - elections move a lot more quickly.
I think in your country’s case, though, you badly need to do something to curtail the length of campaigning first. We had federal elections during your last two presidential campaigns, and they started long after yours, and finished well before yours.
I don’t think most politicians are venal, at least not initially. I think most of them are like our friend demrick6 here: they might have good ideas and good intentions, but they have the hubris to believe that only they have the answers and can accomplish what’s needed, so it is incumbent on them to do whatever it takes to attain power. (I’ll grant that they are usually much more glib than demrick6.) A long campaign costs un sacco di soldi, and the money has to come from somewhere, and, as long as that is the case, the pols will find that money somewhere (illegally, if you reform financing without taking measures to cut back the expenses that the pols must deploy, which are related to the length of time a campaign takes) and find themselves beholden to others. After a while, helping those others will seem natural (it sneaks up on them), and naturally enough, those others will look after the pol - look at the scratch-my-back deal that Chris Dodds struck with the RIAA.
Which brings up another reform that is needed: you need to put very strict limits on what pols can do when they are ousted or retire, said prohibitions to apply for a reasonably long period after political life (a decade should do). Most of the corruption in your country (and mine, for that matter) takes the form of high-paying work after political life, not outright bribe money during the pols’ term of office. By all means, leave them with good pensions - there should be some reward for public service - but remove the need to seek a financial patron at the beginning of a pol’s career, and the incentive to do so during his term of office.