They should be subject to regulation; they should not be granted monopolies. These are two entirely different concepts. The current system grants them monopolies, and fails to regulate them appropriately. This is exactly the wrong way round. But this is the problem with politicians: monopoly provides concentration of cash, and this can be tapped into far more efficiently from the perspective of political exploitation. Its much easier to garner a donation from a rich individual with concentrated cash, than many individuals. Likewise, its much easier tax a few firms or not with tax {X} in return for special favours. Its much harder to garner the support of the diffuse and middle classes (not to mention, even get/keep their attention). So, this is sort of a classic case of political economy in the instrumental sense...on both sides.