This is the purpose of governments; it is why we keep them around. There is no really defensible reason why the chemical, biological, radiological and nuclear industries are heavily regulated, but "cyber" isn't.
I think we all understand that the medium-term answer to this is replacing C with memory-safe languages; it turns out, this was the real Y2K problem. But there's no clear way for regulations to address that effectively; assure yourself, the major vendors are all pushing forward with memory safe software.
It's fun to make fun of old people in ties asking (to us) stupid questions about technology in front of cameras, but at the end of the day, it's a crucial step in actually getting something done about all this.