Comment on U.S. government takes 10% stake in Intel, as Trump expands control over private sector
SocialMediaRefugee@lemmy.world 1 day ago
While I don’t trust this administration in the slightest this isn’t unprecidented:
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In 2009 he U.S. government took an initial 9.85% ownership stake in Chrysler as part of the company’s bankruptcy restructuring. The government later sold its stake to the Italian automaker Fiat in 2011, exiting its investment completely.
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As part of the auto industry bailout in 2008 and 2009, the government received a 60.8% equity stake in GM. The government sold its final shares in 2013.
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American International Group (AIG): In its bailout, the U.S. government provided roughly $182 billion in aid and at one point held an almost 80% stake in the insurer. The government sold its last shares in 2012, ultimately making a profit.
Ilovethebomb@sh.itjust.works 1 day ago
Yeah, it’s one of the smarter things the US government has done, especially considering the impact a bankruptcy would have on the economy.
SocialMediaRefugee@lemmy.world 7 hours ago
The loss of intel, its facilities and staff, would be a pretty hard blow.