Intel faces investor backlash for selling 10% stake to Trump admin at discount
Intel warns investors to brace for losses and uncertainties.
You're viewing a single thread.
How is this legal?
Also how is not socialism? Imagine the wailing from Repugnants if the Democrats did this.
Public ownership of companies for the benefit of the public is a form of socialism, but Trump's fascist oligarchy serves only the wealthy elites. Oligarchs hijacking democracy for their own benefit isn't socialism.
It is socialism, between them
Socialism is social ownership of the means of production. This ain’t it. This is Turbo Capitalism.
It's a bailout where the taxpayers actually get something back.
How is it legal to bail out whole banks or other large companies and not get anything in return?
It wasn’t a bailout. It was a grant being converted to an equity position with questionable legality.
Beyond the greater issues of corruption, at face value there's no reason the government buying up a company with important strategic value should be illegal
It’s basically the GM bailout but with less steps and specifically avoiding bankruptcy which seems more efficient. Not that the gov’t won’t just turn around and run Intel into the ground.
