I think it's time to face reality:
1) Privatisation does not pass risk to the private sector - only profits
2) Rail privatisation has failed
3) We once had a very good rail operator who required a much lower level of subsidiy for a much higher level of efficiency than we have now - that operator was called British Railways.
And that's where we should be heading back to.
The East Coast route should stay in public hands - and be joined by all other franchises as they end or fail.
Then we can have a cohesive transport system again.