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The current administration didn’t start that, see the bailouts of the 07-08 financial crisis.
by mattmaroon 9mo ago
The current administration didn’t start that, see the bailouts of the 07-08 financial crisis.
- shimman 9mo agoThose were just repaying the loans, having a stake in a company is completely different. It's not hard to push that further and in more creative ways too.
- mattmaroon 9mo agoThat’s completely incorrect, they got significant equity in AIG, Citibank, and several other companies.
- shimman 9mo agoEven better, this is a policy that has been done by multiple Presidents. All you need know is an executive willing to do it as it's clearly in the President's power to dictate commerce if they can force the federal government to take equity in various companies at any time (even better if said company relies on US welfare to exist).
- buellerbueller 9mo agoI don't see this as a good analogy, because the financial crisis bailout appeared to save the companies from shuttering, which is not what happened under the current admin.
- mattmaroon 9mo agoSome of it is. Intel was in big trouble. Some of the investments were more national security related and a lot of it was done through the DoD which has a history of this too. It’s unusual but not entirely unprecedented.