The government in the U.S. has already regulated ISPs to the point that an enormous artificial barrier has arisen to market entry.
We need deregulation. Approval for the major carriers in the U.S. is low enough[0] that someone could probably disrupt the entire industry, except it is next to impossible to enter.
You're also aware of regulatory capture, right? This regulation was premature, and, as is typical of government, overreaching.
Imagine even further expanding the power of the last three administrations, especially with the disaster that is the patriot act. Regulations are bad for business and bad for innovation, outside of monopoly laws, and those give me pause as well.
0. http://www.fiercecable.com/cable/comcast-still-ranks-last-cu...