Whats the argument about not letting Thames Water go bankrupt?
If any other big company was in Thames Water's financial position they'd go bankrupt and the investors would carry the can. Tough on the investors who would lose their money, but they should have been prepared for that ("the value of investments can go down as well as up"). So what's the argument against the same deal for TW and the other water companies? Otherwise, the state, which means you and me, will have to pay for the £18 billion debt that TW so recklessly ran up so it could pay investors massive dividends (and the totally undeserved bonuses for their executives) instead of keeping up their maintainence of the system
Richard Carter ● 10d12 Comments