You're definitely not making sense to me...
The BCS isn't a free market issue. Unless you honestly think that another college football system can compete. I think it is clearly a monopoly, which means government should step if it is being mismanaged. There is no way for the market to correct the issue itself. Those managing it will just run it into the ground and ruin a billion dollar industry.
I'm not sure how much of those billions of dollars the government sees, but I'm sure they see some of it. But so do a lot of citizens. Not only is the government protecting its own income, it's also protecting the income of citizens that make money off of the BCS.
I'm failing to see how stepping on on the mismanagement of the BCS equates to the government trying to regulate "every little thing" in your life, and it isn't making government any bigger. The only thing that is happening here is that the existing structure of the government is investigating the management of a monopoly. Something I think they should do.
[edit] And as a last note, they aren't talking about increasing any taxes, so accusing them of trying to take more money is really out of left field here as well...


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