r/technology • u/marketrent • 1d ago

Site altered title “ALL HAIL CHAIRMAN TRUMP! WITH HIS GLORIOUS 10% PURCHASE OF INTEL, THE SOCIALIST REPUBLIC OF AMERICA ENTERS A BOLD NEW ERA” -- California governor Newsom riles Republicans with Trump-trolling posts

https://www.barrons.com/news/meme-lord-newsom-riles-republicans-with-trump-trolling-posts-05b74794
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u/True_Window_9389 1d ago

What about Congress? I guess it’s silly to even bring up, but how did we get a 10% stake in a private company without Congress appropriating the funds and writing approving legislation? Where is the legal basis for this?

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u/Standard-Ad-4077 1d ago

It was going to Intel already via the CHIPS act, so Trump just got something for it upfront instead.

This should be common practise for companies to receive money from the Feds that isn’t in the form of tax breaks. Now the public owns 10% of Intel, which will most certainly be worth more when they eventually sell it if at all.

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u/Defiant_Review1582 1d ago

You’re getting downvoted but you’re correct. I remember Democrats and Republicans wanting a piece of Boeing last time they “needed” a bailout and then miraculously Boeing was able to find money in the private sector.

ETA: I don’t agree with giving any of these corporations free government money and too big to fail is a shit sandwich that rich people feed taxpayers. It’s socialism for the rich and capitalism for the poor

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u/Freud-Network 1d ago

Now the public owns 10% of Intel, which will most certainly be worth more when they eventually sell it if at all used in the future to give unfair advantages to intel so the government does not lose.

FTFY

All the trappings of communism without any of the nonprofit charity. The very thing they demonize. People are pointing out the hypocrisy of it.

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u/IljaG 1d ago

I live in Belgium and when the government bailed out the banks in 2008, we got a stake in them. They are now looking to sell the stock because it went up 200%. So it's not unheard off.

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u/Standard-Ad-4077 1d ago

Nope, NZ did the same with their airline and it keeps them in check.

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u/AkPuggle 1d ago

“Most certainly be worth more” not even remotely the true. The company is an absolute dumpster fire.

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u/Standard-Ad-4077 1d ago

Let me borrow your crystal ball to win the lotto then.

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u/Comfortable-Ad-3988 1d ago

You see, all of the Republicans are "bought in", so they get the intel to make mad money on the bullshit maneuvers going on, while the rest of us get "fucked in the ass". Those are legal terms.