> the problem in practice is that government sucks at running things. They introduce layers of infrastructure that business doesn't

Actually, there is no evidence of this. See this report that compares the Govt run industries before and after privatisation: http://www.psiru.org/reports/public-and-private-sector-effic...

"The results are remarkably consistent across all sectors and all forms of privatisation and outsourcing: there is no empirical evidence that the private sector is intrinsically more efficient"

Even if it was more efficient, $31 billion of corrupt bonuses on top = no different from an inefficient government.