Southern Water's ghost from the past
The financial product that blew up the world in 2008 is haunting the highly-indebted privatised utility
If you thought Thames Water was complicated, just wait till you see Southern Water. It has a corporate structure of mind-boggling complexity.
But looking past the complexity, there’s something hauntingly familiar - a ghost from the past. The financial product that nearly blew up the world in 2008 is back, in a new form. And it is threatening to blow up …
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