The Bill of Rights at least nominally protects you from abuses by the executive, legislative, and judicial branches of government.
There is no Bill of Rights to protect you from the regulators. There is no limitation on their powers. The other three branches of government have delegated power to them for precisely that reason.
That was certainly the idea, and the Anti-Federalists almost defeated ratification of a constitution without one.
OTOH, James Madison knew bills of rights had proved to be mere parchment barriers that often went by the wayside. He determined the best way to secure republican freedom was through separation of powers. First and foremost was vertical separation, meaning a senate of the states.