TC Won't Give In To LiesToday is a good day to #NationaliseThamesWater
BBC News - Thames Water 'extremely stressed', warns boss amid huge losses - BBC News
https://www.bbc.co.uk/news/articles/czxw2edxen9o
Lazarou Monkey Terror 🚀💙🌈@TCatInReality Oh boo fucking hoo Thames Water.....
Exactly!
Nationalise it and sack the entire top exec tier. I am certain there are well-qualified directors who would be thrilled to run Thames Water for a £1,000,000 salary with 50% performance bonus.
Edit: Really, could they do any worse a job? Give them a government minder and let's try.
enistello@TCatInReality Those wondering about companies like Thames Water's debt...
Buy a utility when it's privatised, then raise loans against it (safe bet for lenders - it literally CAN'T be allowed to go out of business).
Use profits from utility to pay interest on loans (rather then replace pipes, invest in infrastructure etc.).
Free money from billions in loans!!!
Until banks call in loans. Then, cos it's a supplier of basic necessities, government buys the utility's debts.
Late stage capitalism
Buy a utility when it's privatised, then raise loans against it (safe bet for lenders - it literally CAN'T be allowed to go out of business).
Use profits from utility to pay interest on loans (rather then replace pipes, invest in infrastructure etc.).
Free money from billions in loans!!!
Until banks call in loans. Then, cos it's a supplier of basic necessities, government buys the utility's debts.
Late stage capitalism
Exactly! Privatisation was always a scam
Buy cheap, load up on debt, drain all the cash. Then leave the collapsed ruin for the government to deal with.
@TCatInReality Alternatively, government legislates to own Thames Water. Debts are defaulted on, with UK gov stating "the value of investments can go down as well as up. Hard lines."
Investors and bankers cannot buy their third superyacht.
Chaos, anarchy, revolution, death, pestilence all ensue.
Investors and bankers cannot buy their third superyacht.
Chaos, anarchy, revolution, death, pestilence all ensue.
I love it.
Unfortunately, some investors are pension funds so some everyday people can be hurt.
I prefer:
- nationalise the company
- default on any debt from companies, sovereign funds or private equity
- pay off the pension debt at somewhere between 20-50p on the pound.