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> President Donald Trump’s announcement on Friday that the U.S. government will take a 10 percent stake in long-struggling Intel marks a dangerous turn in Ameri
by kube-system 1y ago
> President Donald Trump’s announcement on Friday that the U.S. government will take a 10 percent stake in long-struggling Intel marks a dangerous turn in American industrial policy. Decades of market-oriented principles have been abandoned in favor of unprecedented government ownership of private enterprise.
Really? A decade and a half ago the US government owned a 60.8% of GM and none less than Barack Obama was directing management changes.
The US has a long and well established history of being a mixed-market economy to varying degrees.
- cheema33 1y ago> Really? A decade and a half ago the US government owned a 60.8% of GM and none less than Barack Obama was directing management changes. Did US govt. actually had an ownership stake in GM? Please provide some links to this effect.
- kube-system 1y agoYes, along with a number of other US companies. This was done to stabilize the economy in the wake of the 2008 economic crisis. It was a very hot political topic at the time. https://www.politico.com/story/2009/05/obama-reluctant-shareholder-in-gm-023165 https://www.politico.com/story/2009/05/obama-reluctant-share... https://en.wikipedia.org/wiki/Troubled_Asset_Relief_Program https://en.wikipedia.org/wiki/Troubled_Asset_Relief_Program
- BeetleB 1y agoThey also owned AIG insurance. Probably some other companies as well.