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.
Comment on U.S. government takes 10% stake in Intel, as Trump expands control over private sector
anotherspinelessdem@lemmy.ml 10 hours agoDidn’t Obama do it for GM and a bunch of other companies as part of a bailout package for a period of time?
NoForwardslashS@sopuli.xyz 10 hours ago
Blue_Morpho@lemmy.world 8 hours ago
It was Bush just before he left office.
HarkMahlberg@kbin.earth 10 hours 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 8 hours 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.