Columnist Stephen Moore writes that Rep. Jeb Hensarling, R-Texas, the House Financial Services Committee's incoming chairman, sees his position as regulating various financial regulatory agencies, including the Securities and Exchange Commission. Hensarling also noted his top priorities, which include resolving the "too big to fail" doctrine in the Dodd-Frank Act. Authorities must eliminate the "market perception that big banks are taxpayer-protected," he said.

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