Didn’t the US do a similar thing to save our auto industry? Buying in? I’m hazy on the details, been a minute, but didn’t we cash out and profit?
Not saying this is the end game here, but still?
Fascism is a far-right, ultranationalist, and authoritarian political ideology that emerged in early 20th-century Europe, characterized by a totalitarian, one-party state, a charismatic leader, a fixation on national decline, and the suppression of individual rights and opposition groups. It combines elements of militarism, economic self-sufficiency, and mass mobilization, often through propaganda and violence, to achieve a vision of national purity and power.
So uh, Intel doesn’t get anything, and gives up 10% of their stock because they’ve just decided to retroactively alter the CHIPs act?
No, not at all. The government bought shares in Intel. When you have shares in a company you own part of the company.
Release the Trump/Epstein files
Seems like the government owning private industry might stray into the socialism thing thy hate. Why not do this with something more important like healthcare? Republicans are hypocrites.
It’s only socialism when democrats do it.
Healthcare could help, that’s good socialism. Intel is profits and power and control for the sake of it. That’s bad socialism.
That way when things fuck up they can point and go SEE SEE IT DOESNT WORK! WE TRIED IT AND IT MADE THINGS WORSE!!
and if it somehow does manage to help or improve things they can now claim they did something smart and take all the credit.
Wasn’t government cross-pollinating with industry a relevant component in 20th century definitions of fascism?
If tax payers are going to be investing into these businesses and they’re avoiding taxes taking a share of the company is better than nothing.
I mean, it’s socialism, but don’t tell their voters
Next healthcare?
Uhhh, so much for the free market Republicans spent decades championing
They’ll run it into the ground regardless.
Well, yeah, they always do. Republican admins always leave the economy in the shitter and saddle the nation up with debt so that the incoming Democratic admin has to spend all of their time bringing the economy back up to speed rather than implementing effective reform.
Funny, when Europe does this, it’s called “socialism”.
Yes and no. In this context, it’s more of a shakedown-sorta thing.
Yes, but it’s not socialism we’re seeing. It’s fascism. Fascism also has state control of private industry. For a different purpose.
Can you imagine the screams of, “COMMUNISM!!!” If Obama or Biden had done this. It’s all we would hear about for an entire election cycle. Fox “News” would play it nonstop.
Didn’t Obama do it for GM and a bunch of other companies as part of a bailout package for a period of time?
So did Bush. It’s only bad when their enemies do it. It’s righteous and just when they do it.
So if I’m reading that right they set for $700 billion worth of purchase during the Bush admin, it got reduced to 426.4 billion by 2014 and they claimed they made $15.3 billion. It sounds like they made a 3.5% gain on their investment total. A win! Yay… Only if you ignore the fact that if that money went in from 2009-2024, the money averages out on inflation to have been worth 481.29 billion. A loss of $12.15 billion dollars if they would have done anything else with it.
Overall I wouldn’t be mad that they wasted that money if they had focused on structuring the company moving forward in a manner that wouldn’t end up supporting a wealth divide moving forward. The CEO “only” had a salary of $2.1 million in 2024. Which actually sounds mildly alright. Yet her take home was $29.5 million when they got done throwing stocks and bonuses at her. That’s after GM stock started 2024 at $55.50… and ended the year at $35.64.
So the company lost ~36% of its “worth” and she got more than 13x her salary in stock and bonuses.
Ah but a bailout package is different. That’s a display of powerful capitalism. A private company so powerful it can’t be allowed to fail and a government so strong it won’t allow it to fail.
It was Bush just before he left office.
And when China and Arab states do it, it’s something to aspire.
And so the current Intel chipset I have will be the last I ever own.
I feel like that should’ve already been a given when the 13th and 14th gen Core processors permanently kneecap themselves if they feel like it. But that’s just me.
Me too.
Imagine bribing politicians to get tax breaks as those same politicians start to take more of a cut than the other side would have taxed you. I’m starting to think everyone that is rich and powerful are also incredibly stupid.
AyyyyyyyyMD
small penis government 😤
I personally don’t think any of these big companies should be privately owned. Rare win for the pedo admin. Maybe we can get 10% of the epstein files next.
