Who said the burnt child fears the fire? Central banks have shown themselves notable exceptions to that cliché, as evidenced by the slowness with which they responded to the early signs of inflation returning as a major threat, like a long-dormant volcano rumbling ominously. The institutions whose fundamental responsibility it was to detect and counteract the first symptoms of the inflationary scourge were reprehensibly relaxed about that menace.
There are two sides to every story, even the sorry tale of Thames Water
Chairman Sir Adrian Montague is not the one who profited off mismanagement. He was called upon by the government to take the poisoned chalice.