Why Sewol, the Korean ferry, sank
The ferry operator "was trying to make a profit by overloading cargos," said Kim Gil-soo, a professor at Korea Maritime and Ocean University in Busan, "and public agencies that should have monitored did not monitor that."
Except some of those "public agencies" were privatized:
The doomed ferry Sewol exceeded its cargo limit on 246 trips — nearly every voyage it made in which it reported cargo — in the 13 months before it sank, according to documents that reveal the regulatory failures that allowed passengers by the hundreds to set off on an unsafe vessel. And it may have been more overloaded than ever on its final journey.
One private, industry-connected entity recorded the weights. Another set the weight limit. Neither appears to have had any idea what the other was doing.
Neo-liberalism kills, as letsgetitdone says.
Doomed kids trapped underwater.... Ugh. Too distressing.