I find it very interesting how so many "modern" conservatives believe there should be no regulation because of a "government is bad, free market is good" belief and cite Ronald Reagan as the champion of such. They fail to remember that Ronald Reagan may have been a champion of small government, he still understood the need for proper government regulation in areas where the market would not correctly regulate. It was this moderate approach which lead to the success of his presidency and the economic growth seen in the 10 to 15 years after. However, as liberal politicians tried to increase regulation across the board and conservative politians tried to remove it all, the moderate approach crumbled and we are where were are now, with an economy sputtering. "Modern" conservative leaders have moved far past Reagan's conservative position and have done just as much damage as the progressive leaders who implemented the burdensome and restrictive regulations in the first place.

To have some regulation on infrastructure, such as transportation, where capital costs are a signifigant portion of their annual expenditures. As shown by the CSX debacle, investors are not interested in long term vision, but short term gain. It works well for some industries, but not all. Hence the need for some regulation, to level the field so to speak. This is why the railroads, trucking, airlines, etc, need some regulation. But they cannot be so stifled as the pre-deregulation days so the business cannot grow. But recent movements in conservatism have become radical, myopically moving further from Reagan's vision of moderation. It is one of the driving reasons why Romney did not get elected. He held similar views on regulation as Reagan, but was seen as too moderate - moderation never excited anyone. He said "Of course, we have to have regulation on Wall Street and on every street to make sure that our economy works well."

The regulation is needed. Not so much as being suggested and implemented by the current administration, but not so little as being suggested by the small, but vocal extreme of the right wing. Moderation in all things is the approach needed and was how Reagan was so successful.