@ChrisMayLA6 Shouldn't that be pirate equity investors?

See also: vulture capitalists.

@ChrisMayLA6 This is what privatisation really looks like. Steady revenue streams, no competition, statutory guarantees of a market, bugger all quality control

It's easy money, and it's big money.

@ChrisMayLA6 because there's a moral hazard and that means opportunities for exploitation where the cost will not be borne by the business.
C.f. Aged care homes in Australia.
You can starve and abandon vulnerable people in care and nobody notices if the industry isn't heavily regulated and monitored. And if the vulnerable die or leave care, well - that's another spot opened up! (Make sure you get that hefty onboarding fee for each new child/aged person taken into care.)

Privatised care facilities are ghoul factories.

@ChrisMayLA6 There is a long running debate about private day care provision here in Norway.

There are strict rules about how much private owners can take out of the business as a private day care is supposed to be non-profit.

It has lead to a few cases in recent years where private day care owners went a bit too far with creative accounting sometimes taking out quite large sums out of their business.

Which was against the rules.

@ChrisMayLA6

Same story with long term care facilities in Canada, where residents had worse experience (higher death rates) in private vs public facilities during Covid.

Plus, apparently there's some land speculation going on, where facilities are closed and sold to developers for a tidy profit.

@ChrisMayLA6

Isn't anyone ofver there studyuing the US?

Oh. Never mind...they are and taking the very worst ideas we've ever invented, from private equity to filling cheaply made food with crap to make it more profitable.