How the Public Utilities became public again
After the government sold all the Public Utilities
to private investment groups at bargain basement prices,
the new owners invested nothing in their new acquisitions,
but milked them for all they could get out of them.
Service became unreliable at best, and consumers demanded
a change. So the private investors sold the Utilities
back to the government for book value, thus making another
killing, the Utilities once again, back under government
stewardship, returned to providing reliable service, and
everybody was happy again -- except that the consumers
had to pay much higher utility rates than before, to pay
back the bonds the government had sold to private
investors [usually the same ones who had bought
the Utilities in the first place...] to buy
the Utilities back.
Sleep well, you little Future Captains of Industry!
\brad mccormick
--
Let your light so shine before men,
that they may see your good works.... (Matt 5:16)
Prove all things; hold fast that which is good. (1 Thes 5:21)
<![%THINK;[SGML+APL]]> Brad McCormick, Ed.D. / [EMAIL PROTECTED]
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