There are also cases where it does not go well, e.g. flint. Those companies you list suck because they have monopolies which I think is a separate issue. Also, a local municipal organization has a ton less bureaucracy, there is not much incentive for corruption, and the result of corruption won't tank the economy. A national bank would be a whole different ball game. If a guy gives his friend's company free water, so what. if a guy who works at a national bank gives his friend's shitty company a sweetheart loan that he knows they won't be able to pay back, that will have a lot more dire consequences if repeated over and over.