Yes there are speed limit laws but it seem that is not enough using the accident record. I propose there should be a law on the usage of fast cars, the only requirement to own one is your drivers license and your money.
is it the duty of the government to regulate the way people drive in their cars even when they have seen the dangers of over speeding? people just like to go for luxury at the expense of their safety and when accident happens in the process, they put the blame on the government or car producing company when they are the ones that used their hand to buy those cars and even drives at that speed.
the main thing about fast cars should be that the engineers that produce them ought to improve on the safety system that is attached to such cars such that in the event that accident is about to happen, the extent of casualty will be reduced to a large extent. but in the end, the responsibility lies in the hand of the driver of that vehicle to know that by driving on a high speed, you are endangering yourself first before endangering the life of others.