With infrastructure you have a few options for managing risk: 1. Stiff regulation for "natural monopolies," or for effectively state-monopolies. The state legi

With infrastructure you have a few options for managing risk: 1. Stiff regulation for "natural monopolies," or for effectively state-monopolies. The state legislature then prevents the company from raising rates in order to pay back loans or pay off fines. Negligent behavior is punished by the state. 2. Competition, e.g. the Ma Bell breakup. Break up PG&E and have its small companies compete with each other. Any one company can't raise rates to pay off negligent behavior, because they'll lose out to their competition. Negligent behavior is punished by the market. 3. Ajit Pai yourself into a few monopolies with no regulation, and rejoice as you live with whatever Comcast deigns to give you. Actively malicious behavior goes unpunished, or is even rewarded.