The National Express East Coast (NXEC) rail line became the latest failure of privatisation last week when the company admitted that it could not meet the £1.4 billion payments for the franchise.
The government is set to take the Edinburgh to London line into public hands by the end of the year when NXEC defaults on its payments.
NXEC is the second firm to give up the East Coast line in the last two years.
Passenger numbers are not rising as expected as people are cutting back on their expenditure in the recession.
The government plans to sell the line off again at the end of next year.
It should accept that rail privatisation has been an expensive disaster for passengers, workers and services.
The East Coast line should stay in public hands.
And the government should also strip every other company of their franchises – and stop them making profits in the good times and walking away in the bad.