What Trump is doing here is actually wrong
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My understanding is they were getting the money under the Chips Act without giving away 10%. Doesn't make any sense to me.
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plz don't cry
or do
i don't really care
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National Economic Council Director Kevin Hassett told CNBC that the U.S. government could perhaps take equity stakes in more companies through an American sovereign wealth fund.
Governments throughout Europe, Asia, and the Middle East use such funds to make investments in companies and other financial assets, CNBC added.
"The bottom line is that because of the CHIPS Act, the U.S. government had decided to give a whole bunch of money to Intel, and President Trump and [Commerce Secretary] Howard Lutnick … talked to Intel about the progress they were making and the hurdles they had to hop over in order to get the money, and I don't think they were particularly happy with that progress," Hassett told CNBC.
"So, in the end, they worked out a deal where Intel is going to get the CHIPS money but in exchange we're going to get some equity, and the equity is not voting, so there's not going to be government intrusion into the business of Intel. It's more like a down payment on a sovereign wealth fund, which many, many countries have."
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Sounds scary
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Instead of handouts we got equity. Communism.
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Good poast. Definitely mitigates my gut reaction, which is projectile vomiting opposed to the idea.
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#theGoodCentrallyPlannedEconomy
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Vanguard will do the voting at least.
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The problem with most of the Biden trillion dollar handouts is illustrated with this lesson. There were so many stipulations that even companies that know how to wade through the bullshit of government contracting took a pass. It's why Buttboy couldn't get any charging stations built for his billion dollars
This does seem more efficient - outside the box thinking that is anathema to government fans.
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cry harder
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Ironic.
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lol I love it. Westlin is an advocate for socialism after all!
Kudos to those who held firm to their views, even if I don’t exactly agree. Those who held one view before Trump told you to change your mind and you did…shame on you.
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I don't support the "investment". But I do support that it is an immaterial drop in the bucket compared to the hundreds of billions that are going to causes I don't agree with. You leftards are just ankle biting and have no ability to prioritize government waste and the transfer government money to special interest groups of mostly the dem party and corrupt "capitalists".
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Our sovereign wealth fund should have been the social security trust fund.
Except the banksters got their fingers into it and the printing presses.
End the Fed. Fire up the sovereign wealth fund. Rock on.
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Strange the states national guard has been deployed many, many times for lots of reasons and never a peep until he's stopping the insane crime rates in DC…
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I'm so old that I remember when W didn't call out the National Guard because that was the democratic governor of Louisiana's job after Katrina hit. Dems response was that since the governor wasn't doing his job, Bush should have called out the guard. In DC, the dem governor body wasn't doing their job so Trump stepped in.
