> Plus straight old fashioned corruption in a state sponsored monopoly.

Why don't they just nationalize it?

At that point there wouldn't be a huge incentive to raise prices and increase profits and state control would demand lower prices for residents.

> Why don't they just nationalize it?

Given the general dysfunction in American politics (and I say this as an outside observer), the current owners would raise a stink about it, possibly playing the "nationalize == communism == USSR == gulags" card as a negative campaign in the next election.