But the need for private capital would have been higher still.

Private capital is expected to pay for much of the project.

"They are making sure that no private capital comes into this industry again."

With private capital running scared, the role of public money is all the more important.

And the last 30 years suggest that what private capital wants, it usually gets in the end.

Even today, private capital has not yet fully returned to this market.

Moreover, private capital does little to address issues like health and education.

In any case, there may not be enough private capital to take over these giant companies.

The big question is where the financing will come from, private or public capital?

Funding would be from a mix of private and state capital.