>>1518325The entire existence of Railtrack
https://www.theguardian.com/world/2004/apr/01/transport.politicshttps://www.theguardian.com/world/2004/apr/01/transport.politics1These two articles explain it well, and it's comedy told, but for the tl;dr
>UK rushes rail privatisation, Railtrack takes over infrastructure.>they immediately fire most engineering and maintenance staff>Then overcommit to getting the UK's high speed rail up to 140mph by using moving block signalling. (which had not been used on any full-size railway at that time.)>Pays loadsemone to shareholders despite being late and overbudget on the HSR stuff>as a result, basic track upkeep is neglected more and more>Poor railtrack procedures are a factor in the Ladbroke gove train collision. (the signal was a known SPAD risk and should've been subject to mandatory review, but railtrack's internal incompetence failed to do anything about it.)>railtrack intentionally adopts a "culture of defiance" against rail regulators, who are starting to get sick of their shit>Poor maintenance finally catches up with them when the track literally breaks underneath a high speed train leading to the Hatfield derailment.>SHTF, nobody in railtrack knows how many more hatfields are waiting to happen>UK rail network grinds to a halt as massive speed restrictions are put in place >Railtrack makes massive losses, begs the government for a bailout>Govt acquiesces, railtrack immediately uses the money to pay out dividends to shareholders.>HSR modernization is still overbudget and late. It becomes very apparent that UK trains will never go 140mph. (they still can't.)>Railtrack goes into railway administration (bankruptcy) in October 2001.>UK govt is weary of renationalization because Blair fears it'll make them look like "old Labour" socialists>Spends a year trying to keep Railtrack in the private sector>No private investor is crazy enough to touch it, govt is forced to renationalize railway tracks as Network Rail. 