Ah, but why didn't it, Terry? Because in the name of doctrinaire capitalism they had been constructed as "off-book" devices and because, in the name of doctrinaire capitalism, nationalising them would have been "socialist". The caitalist system required that outcome.

Capitalism is the conspiracy of power against the powerless, and the legal system is its tool (yet still its thrall, since the only thing the big law corporations ask of their lawyers is that they maximise profit, and even judges are graded on (amongst other things) how fast they get through their workload against the number of successful appeals against their decisions).

Capitalism has failed, continues to fail, and in time will come to be seen as it was, a vehicle of oppression as much as the feudal system.

Fred was just one of the more obvious oppressors. What he set out to do was wrong, and what he achieved was worse.