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Comment on U.S. government takes 10% stake in Intel, as Trump expands control over private sector

Didn’t the US do a similar thing to save our auto industry? Buying in? I’m hazy on the details, been a minute, but didn’t we cash out and profit?

Not saying this is the end game here, but still?

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witten@lemmy.world ⁨2⁩ ⁨days⁩ ago
Not exactly:

According to a May 2011 report by the White House National Economic Council, however, the US government may have to write off about $14 billion of its $80 billion loan.

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kameecoding@lemmy.world ⁨2⁩ ⁨days⁩ ago
AFAIK the US government also made money off of the 2008 bailouts, at least I am sure they had to pay it back, but for some reason I think it lives in people’s minds as it was like a one time gift of money to those banks and they didn’t have to pay it back or anything.

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- CH3DD4R_G0BL1N@sh.itjust.works ⁨2⁩ ⁨days⁩ ago
  
  for some reason
  
  Perhaps seeing your government continually use your tax money to bail out industry that has no tangible benefit to anything but the stock market while fighting against every penny directly invested into the taxed populace colors peoples’ perception a bit.
  
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  - kameecoding@lemmy.world ⁨2⁩ ⁨days⁩ ago
    I disagree with the “no tangible” benefit part, the Worlds economy was about to completely collapse, if you think things are bad now I am sure it could have been much much worse, possibly ww3 post apocalyptic hell-hole.
    
    I do agree the US government sucks and should have implemented more regulations after and fucked up when they didn’t. But on the other hand, you guys are the ones with a Fascist government so you do keep electing these people.
    
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    CH3DD4R_G0BL1N@sh.itjust.works ⁨2⁩ ⁨days⁩ ago
    Yes, I know I didn’t address nuance of economy and labor market in the curtness of my reply. But that is often poorly communicated or not at all, so we just see another private entity getting our money gratis or with very low interest.
    
    Add onto that the de facto American policy that private citizens are on their own, circumstances be damned, while the capitalist interests get rescued every time their greed and other missteps hurt their ability to compete in the market and maybe you can see why people are less than charitable with how they perceive these events.
    
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