As others have quoted above, GIO and the State bank privatisation has lead to mass job losses, office/branch closures, hikes in prices, introductions in fees, reduction in competition and lowering of services, and the same can be said for every other public enterprise that has been sold off, despite the pollies promising the opposite.
How about the possibility it was all an ideological shell game, dressed up under the cover of "academic rigour" to fleece the public by privatising monopolies?
Another way of viewing privatisation is the "privatisation of taxation", look no further than the M5 and other toll roads in Sydney or Melbourne. The residents of these cities are fleeced daily by a select few.
You might want to check out [haven't read it myself] "
Game of Mates" by Cameron Murray released in the past couple of weeks.
SMH book review.
He also recently appeared at the Queensland Crime & Corruption Commission (CCC) giving evidence [
Submission evidence transcript] about property rezoning & political bribes, I mean donations. Follow the money, he does and you will have your answer why we don't put Australia first.