Trying to stop catastrophes from happening needs regulation and incentives, both of these things are broken in capitalism by its nature. But its not impossible to have regulation and incentives in either capitalist or socialist projects.
It now costs huge amounts of money to Belarus, which gov has nothing to do with USSR nuclear projects. https://www.bbc.com/news/world-europe-53727243
The European Union gave (and, until now, gives) huge amounts of money in order to contain the problem, for example the sarcophagus. https://time.com/5255663/chernobyl-disaster-book-anniversary...
"Socialized losses", as far as I understand it, means that the group paying for the losses is the same one as the one which is/was the beneficiary. Does someone think that EU citizens were set to benefit from the Chernobyl plant?
The point of the phrase is that the people who are paying for the costs (tax payers) are not the ones who received any benefit or were going to benefit (profits, shareholders, CEOs, etc.).
My point is that such scam isn't specific to the degraded version of capitalism so common in our nations, which is in fact "crony capitalism".
We patently cannot tackle cronyism thanks to any powerful institution. In fact anything powerful nurtures it.