Construction firm Carillion has gone into liquidation

Carillion, a major UK construction company, collapsed due to financial mismanagement, affecting 19,000 jobs and public services. Despite warnings, the government continued awarding contracts. The company had significant debt and pension deficits, leading to losses for banks and potential costs to the pensions lifeboat. Hedge funds predicted Carillion's overvaluation, which the board dismissed. The collapse raises questions about private companies' roles in public services.

What new insight or understanding did you gain from this video?