JuneSim63 💚Mar 28, 2024

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
Show threadEpistatacadam

@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....

Mar 29, 2024 at 8:59amWeb