You REALLY ARE entrenched in the past twelve years aren't you John ?
Before any of us can start to chuck blame about - especially in this situation - we have to be able to look back many more years than twelve.
Nationalisation has been branded over the years as responsible for certain industries and entities failing and because of the bad name that nationalisation was stuck with many rightist viewers and their grumbling and unsatisfied supporters fell into the dogma that only private industry and the profit motive could do ANYTHING right.
We have all been shown recently that the greed for ever more profits and personal riches has proven that the privatisation route is just as capable of getting it seriously wrong.
Now that this IS the case we see many failed PRIVATE entities having to be bailed out by public cash because they would have been destroyed if we had not come to their aid.
People like me are not surprised one bit when things happen like this as uncontrolled greed and recklessness MUST eventually fall apart.
( The rules that control and regulate the privatised industries and banks have - over the years - been eroded and destroyed so that these groups finally only had their consciences to make them do the right things so as to protect their customers and shareholders ).
I have always been of the opinion that if nationalised industries, ( especially the essential services ), are run properly, regulated properly and financed properly, ( which they never were in the past ), there is no reason why the nationalised industries and entities of the future should not be completely successful and protected for the use of the greater part of the people of this country.
After the business regulations were eroded away to nothing by the previous Tory government, led by Thatcher and the presently encumbent government did not have the courage to re-impose these regulations as they should have, once the self-imposed regulations failed it became inevitable that the whole worldwide industry would come crashing down.
Now the governments of the developed world are being forced to apply sticking plaster fixes to these entities and we are all hoping that the same set of circumstances do not ever come about again.
If these controls are not put in place after learning from our mistakes and these greed-driven private entities that I speak of are once again given a free hand I - for one - fear that this situation might happen all over again.