House Minority Leader John Boehner (R-Ohio) is resisting calls for major new federal involvement in the financial markets after the bankruptcy of Lehman Brothers and the sale of Merrill Lynch roiled financial markets. Both major presidential candidates called for tighter regulation.

“We don’t need more federal involvement in our markets,” Boehner told reporters Tuesday. “We need this issue to resolve itself.”

Boehner also praised the actions of the Treasury Department and the Federal Reserve over the weekend, when they declined to come to the rescue of Lehman and other Wall Street firms.