But this is the fundamental problem with the way these privatisation deals are structured. If it relies on a strong regulator to make it work, then as soon as a 'red-tape' cutting government comes in that is being lobbied hard enough the whole thing breaks down.
Exactly the same problem with public ownership though - as we've seen. All it takes is one libertarian or corrupt government to sell of whatever it is into the private sector and once it's gone it's practically impossible to ever buy back.
