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> When they badly, badly screw up, they just get bailed out with public funds

When this happens, I think it's only fair that the bailed-out company becomes publicly owned. If I'm forced to invest in a company with my tax dollars, then I damn well better be treated as an investor. Where are my shares? Where are my dividends?

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When the USG bailed out banks via TARP during the 2008 financial crisis, it did so by buying shares in those companies. It later sold those shares for a $30.5 billion profit.

If GMC had been “publically owned” it would have been gutted for profits (kickbacks) by its bureaucracy and politicians and been long dead by at least a decade. Bureaucrats are not good at running companies and private companies should not be providing public services (prisons, toll roads). I don't know why Americans have become so unpragmatic and either all in on “government doing everything” or “private corps doing everything” when life is never ever that simple.

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