And when China and Arab states do it, it’s something to aspire.
Comment on U.S. government takes 10% stake in Intel, as Trump expands control over private sector
SpontaneousCombustion@lemmy.world 4 weeks ago
Funny, when Europe does this, it’s called “socialism”.
woelkchen@lemmy.world 4 weeks ago
gravitas_deficiency@sh.itjust.works 4 weeks ago
Yes and no. In this context, it’s more of a shakedown-sorta thing.
assembly@lemmy.world 4 weeks ago
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.
anotherspinelessdem@lemmy.ml 4 weeks ago
Didn’t Obama do it for GM and a bunch of other companies as part of a bailout package for a period of time?
HarkMahlberg@kbin.earth 4 weeks ago
So did Bush. It's only bad when their enemies do it. It's righteous and just when they do it.
LifeInMultipleChoice@lemmy.world 4 weeks ago
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.
NoForwardslashS@sopuli.xyz 4 weeks ago
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.
Blue_Morpho@lemmy.world 4 weeks ago
It was Bush just before he left office.