It&#x27;s not quite so simple. The whole point of the 1996 Telecom Act was to get rid of the legal monopolies and get the government out of the business of regulating them. What we have now are <i>incumbents</i> not monopolists. However, in a low-margin industry (Verizon&#x27;s wireline operating margin is 2-5%) with enormous capital costs, that&#x27;s kind of a theoretical distinction.