Screw your game of Monopoly! Corporate America & Tech Oligarchs can eat a huge bowl of 8===D~
The definition of insanity is doing the same thing over and over, and expecting different results.
The Racket in Four Acts: Monopoly, Corruption, Collapse, Repeat
America keeps living through the same economic scam on loop. It goes like this:
Industries consolidate. A few giants choke out competition. Profits surge.
The giants rig the rules. Lobbyists flood Washington. Risk piles up in the dark.
The bubble pops. Workers lose jobs, savings, homes. The public pays the cleanup bill.
Congress steps in with reforms to “make sure this never happens again.”
Time passes. Wall Street, Big Tech, Big Banks, Big Oil, Big Whatever quietly pressure, sue, and lobby until those rules are weakened, gutted, or repealed.
Go back to step 1.
This isn’t an accident. It’s a cycle. And it’s older than any of us.
Let’s walk it.
Act I. The Gilded Age: Robber Barons and the Birth of Monopoly
Remind you of someone else that like a lot of gold?
In the late 1800s and early 1900s, America was run by industrial cartels. Railroads, oil, steel, finance — each sector was dominated by a handful of men who set prices, crushed unions, bribed legislators, and bought judges like they were cufflinks. This was the original corporate-state merger.
How Congress responded:
Sherman Antitrust Act (1890). Made it illegal to restrain trade or monopolize a market.
Clayton Antitrust Act (1914). Closed loopholes, banned certain kinds of anti-competitive mergers.
Federal Trade Commission Act (1914). Created the FTC to investigate and stop “unfair methods of competition.”
These weren’t academic. They were weapons aimed directly at people like John D. Rockefeller and J.P. Morgan. The government actually used them to break up Standard Oil (1911) and later to smash other combinations. The public message was clear: the economy exists to serve the people, not the other way around.
How the protections were weakened over time:
By the late 20th century, federal antitrust enforcement had been reinterpreted around one narrow question: “Does it raise consumer prices right now?”
If a merger didn’t instantly spike the price of a widget at Walmart, courts and regulators often let it go.
“Bigness” itself stopped being considered a threat to democracy, wages, or supply chain resilience.
Dominance, vertical lock-in, vendor bullying, monopsony over labor — all of that got hand-waved as “efficiency.”
That reinterpretation let wave after wave of mergers sail through in airlines, banking, telecom, media, meatpacking, defense contractors, pharmacy benefit managers, health insurance, agriculture, cloud computing, app stores, logistics, you name it. Fewer players. More leverage. Less bargaining power for workers and suppliers. More systemic fragility.
So Act I ends where it began: concentration.
Act II. The Great Depression: Financial Greed Nukes the Economy
The 1920s were a party for bankers and speculators. No meaningful federal deposit insurance. Banks gambling customer deposits in markets. Insiders pumping stocks with no disclosure rules. When the market crashed in 1929, it set off bank panics, mass unemployment, and total economic collapse.
How Congress responded:
The New Deal era gave us some of the strongest financial guardrails in U.S. history:
Glass–Steagall Act (Banking Act of 1933).
Separated boring banking (deposits, savings, checking) from speculative investment banking (securities underwriting and trading).
The message: You can be a casino OR you can be a utility. You cannot gamble with grandma’s deposits.
FDIC insurance (1933).
Guaranteed deposits up to a certain amount, stopping bank runs.
Securities Act of 1933 / Securities Exchange Act of 1934.
Forced companies to tell the truth about their finances.
Created the SEC to police securities markets.
The result? Banking stabilized. Ordinary savers weren’t wiped out every time bankers got reckless. The financial system got boring. Boring was good. “Boring” is what allows people to build a life.
How the protections were weakened, gutted, or undone:
Over the next 60 years, the banking lobby never stopped pushing.
Starting in the 1980s and accelerating in the 1990s, regulators and courts chipped holes in Glass–Steagall.
In 1999, Congress passed the Gramm–Leach–Bliley Act, which effectively repealed core parts of Glass–Steagall.
Commercial banks, investment banks, and insurance companies could merge into giant financial supermarkets.
“Too big to fail” stopped being a nightmare scenario and became a business model.
We were told this would “modernize” finance.
Nine years later, we got 2008.
Act III. The 2008 Financial Crisis: “Modern” Finance Explodes
After Glass–Steagall was gutted and derivatives were left largely unregulated (see also the Commodity Futures Modernization Act of 2000, which helped keep credit default swaps in the shadows), Wall Street levered itself to the moon on mortgage-backed securities, junk paper, ratings fraud, and straight-up fantasy balance sheets.
When housing cracked, the system almost went with it.
Millions of Americans lost homes, pensions, jobs. Trillions in household wealth vanished. Meanwhile, the biggest institutions — the ones whose size, complexity, and political clout created the danger — were rescued because “if they go down, everyone goes down.”
Heads they win. Tails you bail them out.
How Congress responded:
Dodd–Frank Wall Street Reform and Consumer Protection Act (2010).
Required big banks to hold more capital (a thicker shock absorber).
Created the Consumer Financial Protection Bureau (CFPB) to stop predatory lending.
Gave regulators “Orderly Liquidation Authority” to wind down failing giants instead of panicking.
Forced some derivatives onto clearinghouses so they couldn’t hide off-books.
Dodd–Frank was supposed to put the gun back in the holster.
What got rolled back or weakened:
Under heavy bank lobbying, parts of Dodd–Frank were watered down during rulemaking. The industry fought higher capital requirements, fought stress tests, fought derivatives transparency.
In 2018, Congress rolled back pieces of Dodd–Frank for “smaller” but still very large banks — raising the asset threshold at which strict oversight kicks in. Those mid-size regionals got more room to take interest rate and liquidity risk without the same scrutiny.
Not long after, several of those “mid-size” banks faceplanted in interest-rate shock, triggering emergency interventions to protect uninsured deposits. Taxpayers were told (again) this wasn’t a bailout, just “systemic risk management.”
The script repeated:
Deregulate in the name of “efficiency” and “innovation.”
Watch risk quietly stack up.
Crisis hits.
Socialize the downside.
That is not the free market. That is privatized gain, public insurance.
Act IV. Today: Monopoly Capitalism in Everything
It’s not just banks.
Tech
A handful of platform giants control app stores, digital advertising, cloud infrastructure, personal data, AI compute, and even access to audiences. They set the terms competitors must live under. They buy or bury emerging rivals before those rivals become real threats.
When one of these firms sneezes, entire sectors catch pneumonia. That level of dependency is fragility — national fragility. It is the opposite of resilience.
Defense
During WWII there were dozens of major defense suppliers. Now it’s basically five prime contractors. Fewer bidders. Less price discipline. Cost overruns treated like weather, not theft. The Pentagon can’t pass a clean audit, yet those firms report billions in steady profit and spend billions on stock buybacks.
This is the “free market” only in branding. In practice it’s a captive client (the U.S. government), a captured appropriations process (Congress), and a guaranteed margin (the contractor). That’s not competition. That’s extraction.
Food, shipping, rail, health care, media
We see it everywhere: meatpacking concentrated in a few firms; rail freight in a few Class I carriers; hospital systems merging, then closing “unprofitable” rural locations; pharmacy benefit managers that sit between drug makers and patients and quietly name their own price.
When an industry is controlled by a few giants:
Workers lose bargaining power.
Suppliers get squeezed.
Prices drift up.
Service quality drifts down.
One bad decision, one strike, one cyberattack — and the whole country feels it.
That’s systemic risk. Just like “too big to fail,” but across the whole economy.
The Political Loop: Why This Never Ends
If the story ended with “we forgot our lessons,” that would almost be comforting. It’s worse than that.
Here’s the real loop:
Step 1. Monopoly forms.
Corporations merge, gobble rivals, and use their size to rewrite market terms.
Step 2. Monopoly buys influence.
Money flows into campaign donations, PACs, think tanks, “white papers,” regulatory capture, and well-paid former lawmakers who “consult” and “advise.”
Step 3. Monopoly takes reckless bets.
Because when you’re too big to fail, risk isn’t risk. It’s leverage.
Step 4. Crash.
Workers get laid off. Pensions get hammered. Small businesses get shredded. Communities get hollowed out.
Step 5. Congress acts under public rage.
We get Sherman. We get Glass–Steagall. We get Dodd–Frank. We get the CFPB. We get antitrust lawsuits against tech platforms. We get hearings where CEOs sit under oath and pretend to be humble.
Step 6. Memory fades. Lobbying doesn’t.
Industry sues. Industry lobbies. Regulations get “streamlined.” Thresholds get raised. Oversight budgets get cut. Enforcement leadership gets swapped with “industry-friendly” professionals. Courts — now packed with deregulatory ideology — reinterpret laws to mean almost nothing.
Step 7. We are “surprised” by the next disaster.
Rinse. Repeat.
This is not incompetence. It’s design. The goal of corporate power is not just profit. It’s immunity. You build so much leverage over Congress and the economy that you cannot be allowed to fail — and therefore you cannot be meaningfully regulated.
Once you are “systemic,” you’re above consequences.
Why This Is a Democracy Problem, Not Just an Economics Problem
When a handful of firms control your food, your medicine, your banks, your news, your transportation, your information feeds, your weapons, and your jobs, you don’t live in a competitive market economy.
You live in an administered hierarchy where price, wage, and policy are quietly negotiated between corporate boardrooms and political offices — and then sold to you as “the free market.”
That’s why the founders (yes, even back then) were suspicious of concentrated economic power welded to political power. That’s why Progressive Era trust-busters tried to smash monopolies. That’s why New Dealers split banks. That’s why we created post-crisis firewalls over and over again.
Because concentrated private power becomes public danger.
And because every time we let it concentrate, we pay for it the same way:
Lost jobs.
Lost homes.
Lost savings.
Lost bargaining power.
Lost dignity.
While the architects walk away rich.
What It Would Take to Finally Break the Cycle
We actually know how to stop the loop. We’ve done it before. The problem is not brains, it’s will.
Here are the pillars — not tweaks, pillars:
1. Treat bigness itself as a threat again.
Stop pretending monopoly is “efficient.” Restore antitrust to what it used to be: preventing dangerous concentration of power, not just policing whether a price at Walmart went up by 12 cents.
That means blocking mega-mergers, unwinding abusive vertical lock-ins, and yes, breaking up firms when they sit on entire markets like feudal lords.
2. Reinstate hard financial firewalls.
We need modern Glass–Steagall logic: you can be a federally backstopped utility serving the public, or you can be a private casino swinging for the fences — but you don’t get both. If you’re too big to fail, you’re too big to gamble.
Also: automatic failure resolution. Not “bailout theater.” Actual wipeouts for executives and shareholders when they blow up the bank.
3. Make regulation self-executing, not optional.
Right now, a lot of our “safeguards” depend on having heroic regulators willing to fight industries that outgun them 100 to 1 in money and lawyers. That’s not a system. That’s a fantasy.
You want to stop banks from levering 40:1? Cap it in statute.
You want to stop defense contractors from eating each other? Ban further consolidation in critical sectors unless there are at least X viable, independent competitors left.
You want to stop tech platforms from self-dealing? Mandate interoperability, data portability, and a structural firewall between running the platform and competing on it.
Do not trust “voluntary commitments.” Write the line in law.
4. Cut off the revolving door.
You should not be allowed to leave Congress on Friday and sign a seven-figure “advisory” contract helping a merger through DOJ on Monday. You should not regulate an industry you plan to lobby for next year. Everyone in D.C. knows this is legalized bribery with nicer suits.
5. Tie corporate rescue to worker rescue.
If the public steps in during a crisis, workers should come out better off, not worse. That means strict conditions: no buybacks, no dividends, no executive bonuses, mandatory wage floors, union neutrality, worker seats on the board, and automatic equity upside for the public. If taxpayers are the backstop, taxpayers are also the investor.
The Truth Nobody in Power Likes to Say Out Loud
We are not living through “unpredictable downturns.”
We are living through a maintenance schedule of looting.
The basic pattern of American capitalism for the last 150 years has been:
Consolidate.
Extract.
Explode.
Regulate.
Deregulate.
Repeat.
And every time, we are told this version is different. Every time, we are told the grown-ups are in charge now. Every time, we are told we can trust the markets to discipline themselves.
But markets don’t discipline monopolies. Monopolies discipline markets. And unless Congress stops pretending not to notice, we already know how the next chapter ends:
They get the profits.
We get the bill.
It is far past time to reset the rules of the game.