10 October 2001

A lesson for Amtrak?

Railtrack, the UK company set up to run the track part of the UK’s railway network, has gone bust. All the suckers who bought shares hoping that vital infrastructure could be treated as a profit-making industry will get little or no payback. A few Tory political cronies who got to be high-level managers of Railtrack made out like bandits and retired with millions of pounds.

Well, it beats having to re-nationalize. At least this way only the people who bought into the idea of privatization get screwed.

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