Regulatory corruption (regulatory capture) is a understood and predicted effect of privatization. It's the class that decided to start and stay on the privatization strategy that also hold the political power to regulate more strongly.
I recall that most Tory voters in the 1980s were "sold" on the idea of privatisation (and had real horror stories in relation to eg phone line installation delays).
One of the ideas was to widen share ownership to the average bloke. Sure - that never happened (although many average pensioners maybe hold Macquarie via an investment fund).
This "class" actually, in general, are very angry about regulatory capture and we blame the class of woke bien pensant "leaders" who back scratch and go in and out of the media, the lobby, the civil service, NGOs and the privatised utilities scratching each others' backs and telling us all we are idiots. [Rory Stewart being their patron saint]
