I just wanted to make one other point on this front. Most monopolies/oligopolies are government made by mandate or regulation. Rarely does a company rise to the top and stand there for long periods without some useful legislation.
I think most regulation, especially the really complicated stuff is bound to bite us in the ass, and fortify the big banks against challengers. we are better off just breaking up the systemic risks. We have had a few hundred community bank failures in the last couple years, how come no one fears these failures?
One of the only regulations I can really agree to is a (low) hard limit on total debt a bank may hold.
Maybe I am just being simplistic, and I probably am, because not once have a heard a serious call for limiting the total size of banks.
