The slap fight between Donald Trump and Elon Musk has highlighted the absurdity of keeping so much of our space program and satellite internet infrastructure in the hands of a single oligarch.
It was more than something like a loan, the federal government actually a fair amount of control over the company. It ended up divesting itself once the new, restructured company made its IPO, but during the bailout, the US gov was technically in control, and it got priority over all other interests since the company went private with special financing.
It’s certainly different than other nationalized industries, but it was also much more than a regular bailout.
Technically no. Bailout =/= nationalization.
It was more than something like a loan, the federal government actually a fair amount of control over the company. It ended up divesting itself once the new, restructured company made its IPO, but during the bailout, the US gov was technically in control, and it got priority over all other interests since the company went private with special financing.
It’s certainly different than other nationalized industries, but it was also much more than a regular bailout.