No, it has not been privitized in the sense that I am speaking of.

The government is still giving the corporations money. With out government, the corporations get no money. Again, it is because of government that we have a situation like we have now.

How is this a failure of the free market, I'm guessing that is your point here.

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"Sometimes it is said that man cannot be trusted with the government of himself. Can he, then, be trusted with the government of others? Or have we found angels in the form of kings to govern him? Let history answer this question."
-Thomas Jefferson in his first inauguration address