JuneSim63 💚

This is the classic scam. Privatise an essential service. Load it with masses of debt, while investing the minimum it can get away with. Pay shareholders as much as it can get away with. When it collapses, walk away so the state has to pick up the pieces until it becomes viable again. Rinse and repeat.

#ThamesWater #Water #Privatisation

Thames Water shareholders refuse to inject more cash into ‘uninvestable’ company | The Independent
https://www.independent.co.uk/news/uk/home-news/thames-water-shareholders-funding-london-b2519896.html

Thames Water under threat of nationalisation as shareholders refuse to inject £500m lifeline

A rescue funding plan was drawn up in July but has fallen through ahead of the first payment

The Independent
Mar 28, 2024 at 8:50amWeb
Show threadSteve WilliamsMar 28, 2024
@junesim63
They don’t even bother to rinse 😔
Show threadstfn  Mar 28, 2024
@junesim63 nationalization is the way. Essential service should have never been privatized. Most services should not be in private hands.
Show threadDoug 🌈🇨🇦 Mar 28, 2024
@junesim63
Just nationalize it with no compensation to shareholders because they already stole the value.
Show threadintermobility_berlin 🌻🇪🇺Mar 29, 2024

@junesim63 Deutsche Bahn in a nutshell.

#Bahn #DB

Show threadJonathan WrightMar 29, 2024

@junesim63

Why, whenever a privitised company fucks up, is the tax-payer expected to bail it out so that it can continue to trade?

They should be put into administration, with the entire industry renationalised without delay.

#GTTO #Renationalisation #ThamesWater #UtilityCompanies #FuckUp

Show threadEpistatacadamMar 29, 2024

@junesim63 the bizzare thing is people seem to believe it won't happen again, this is the third water company to go bust in this manner, the other two were far away from London so don't matter do they.

Remind me what is the definition of stupidity....

Show threadFrances LarinaMar 31, 2024

@junesim63

Here in the USA we call that the, "private equity model".

Show threadAndrewApr 7, 2024
@junesim63
What happen when more of these scams collapse simultaneously?
Do you think that a PE implosion could be the epicenter of the next financial crash?