Trump gets 'golden share' power in US Steel buyout. US agencies will get it under future presidents

[Yo_Mama_Been_Loggin]

HARRISBURG, Pa. (AP) — President Donald Trump will control the so-called “golden share” that's part of the national security agreement under which he allowed Japan-based Nippon Steel to buy out iconic American steelmaker U.S. Steel, according to disclosures with the U.S. Securities and Exchange Commission.

The provision gives the president the power to appoint a board member and have a say in company decisions that affect domestic steel production and competition with overseas producers.

Under the provision, Trump — or someone he designates — controls that decision-making power while he is president. However, control over those powers reverts to the Treasury Department and the Commerce Department when anyone else is president, according to the filings.

The White House responded in a statement that the share is “not granted to Trump specifically, but to whoever the president is" when asked why Trump will directly control the decision-making and why it goes to the Treasury and Commerce departments under future presidents.

https://www.msn.com/en-us/money/markets/trump-gets-golden-share-power-in-us-steel-buyout-us-agencies-will-get-it-under-future-presidents/ar-AA1HpYMD

At first glance I thought it said. "Trump gets golden shower."

[Traildogbob]

1. Same.

I visualized it. 💧💦🌊😓
But the source of the shower, Natty Ya Hoo.

[spanone]

2. Give him that power and you'll never get it back.

[Igel]

3. It'll pass along.

It's with the office, not the person. If nothing else, at some point he'll be worm-food.

Note, though, that now the US government is, in a sense, a kind of controlling partner in a particular steel company.

It's also the regulator-in-chief for the steel industry, including all the other steel companies.

I, for one, can't imagine any conflicts of interest there. (At least we got what amounts to a really important role in deciding aspects of the company's behavior, all without investing a cent. Who needs to nationalize and be socialist when you can, one way or another, control a company either by regulations or by having a 'golden share' and be corporatist--which, of course, comes in different flavors.)

[hildegaard28]

4. This

Is basically the communism that Republicans are constantly trying to scare the public with. Government control of the means of production .