Privatization, Public Property and Greed

The more I read about water the more I realize the debate is not about how best to get water to people but rather who can best get water to people.  On principal many argue that privatization of water should be illegal.  Others argue that private industry is more motivated to get water to more people in order to turn a profit.  I agree in principal but have no problem with profit.  I do, however, take issue with greed. 

In the privatization debate we tend to focus on which economic policy is better for a particular country or even for a global market.  But we do not have to choose between socialism and capitalism, they work differently in different cultures, but we do have to consider greed and corruption in any economic or governmental system.   The question should not be, should a private company be able to make a profit providing water to poor people, these systems are already in place.  We should be asking how much of a profit should these companies be able to make.  I am no expert in economics but it seems to me that, for example, that if oil companies only turned half of the profit they currently turn, they would still be very comfortable.  The same could be said for water companies and energy companies. 

It should not be absurd for these companies to self regulate in a way that allows them to assist developing countries (instead of exploiting them) and still turn a better than modest profit.  But it is absurd, in the business model that currently exists, to expect this.   Regulation then must come from government.  There is a middle ground between a completely free market and nationalization of industry.  A balance between the two would be the most benificial for people in need. 

This article on peanut paste demonstrates some of these ideas.  Is it good business or is it greed to keep secret a revolutionary recipe that can keep starving children from dying in developing countries?