Today, we welcome back Feargal Sharkey, who visited Bubble Trouble last summer and dropped a (water) bomb on our privatized utilities. He’s fought the noble fight to expose Thames Water as  profiteering polluters. Nine months later we have a massive credit bubble bursting, dumping toxic sewage in both debt laden shell companies and the real shit floating in our rivers and seas, while private equity owners took out £78bn of dividends since privatization kicked in. A warning: this conversation should make everyone angry, whether you draw a drink, go for a wild swim, or just watch your rising water bill - asking how this utility privatization bubble caused so much trouble.For more on Bubble Trouble, including transcripts of the show, visit us online at http://bubbletroublepodcast.comYou can learn more about Richard at https://www.linkedin.com/in/richard-kramer-16306b2/More on Will Page at: https://pivotaleconomics.com(Times below correspond to the episode without considering any inserted advertisements.)This episode of Bubble Trouble features hosts Richard Kramer and Will Page, with return guest Fergal Sharkey, discussing the failing state of privatized water companies in England. Highlighted are the issues of excessive dividends extracted by private equity owners, the massive debt incurred by water companies, regulatory failures, and the environmental costs of pollution. Sharkie shares his firsthand experiences with water pollution and regulatory battles. The episode delves into the implications of privatization on public resources, the potential for nationalization, and the urgent need for systemic reform in water management amidst mounting public outrage and the looming crisis of water scarcity in London. The conversation encapsulates the complexities of privatization, the financial engineering driving the water industry's woes, and the palpable need for political and regulatory intervention.00:00 Introduction00:55 Introducing Repeat Guest Fergal Sharkey: A Deep Dive into Water Industry Woes00:59 Part One01:28 Fergal Sharkey's Journey: From Fly Fishing to Fighting Water Privatization03:27 The Alarming State of England's Privatized Water Industry06:47 Investigative Journalism and the Mainstream Media's Role07:44 Exploring the Nationalization Debate and Its Complexities11:06 Regulatory Failures and the Environmental Catastrophe14:27 The Financial Quagmire: Debt, Dividends, and the Dire State of Infrastructure22:00 Addressing the Bondholders: A Call for Accountability27:12 Part Two27:12 Looking Ahead: Solutions and the Future of Water Privatization31:49 The Inefficiency of Global Success32:11 System-Level Solutions for Water Management33:14 The Looming Water Crisis in London34:01 Government's Role in Managing the Water Industry34:42 The Financial Challenge of Securing London's Water Supply35:27 Reforming the Water Industry: A Shift in Earnings and Management35:59 Empathy for the Regulator and the Need for Investment41:10 Nationalizing the Water Companies: A Strategic Move47:04 Political Pressure and Regulatory Challenges49:42 Privatization's Failures and Future Directions55:20 Concluding Thoughts and the Public's Role57:34 Credits Hosted on Acast. See acast.com/privacy for more information.