One fact that may have escaped Congress' attention in the heat of passing Sarbanes-Oxley is that New York does not have a monopoly on raising capital.
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When there was a monopoly on access to said capital.
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My investment capital says Green Bay does not have a monopoly on such a perspective.
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The National Grid is privately owned, is a monopoly, and is highly regulated as to rates of capital return and so on.
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At the very least, the efficiencies created by the greater stability and predictability will release human capital currently devoted to arbitraging the instability of government monopoly currency.
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Because a small number of major banks occupy a monopoly position, meaning one can only go to them for loans and capital.
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