Not Your Job, Not Your Business, Pols

WASHINGTON (MarketWatch) — Lawmakers on Monday expressed concern about the planned merger between NYSE Euronext and Deutsche Boerse AG, focusing their worry on how the deal will result in one entity controlling a larger share of the American equity options market than any other company.

Instead of piling on more rules and regulations which forces government to provide the kind of oversight these hearings suggest, reduce regulations and make it easier for new entrants to compete against established firms. As we see here, more government begets more government. Reduce government and there is less need for more of it. More rules and regulations cement large, established firms in place because they can use regulations to keep out firms with fewer resources to deal with the regulations.

But both Reps. Robert Goodlatte (R-VA) and Rep. John Conyers (D-MI) would rather wield power than actually improve the general welfare.



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