Conservatives rage against Trump admin buying Intel "Preposterous move. If Obama had done this".
“It is my Great Honor to report that the United States of America now fully owns and controls 10% of INTEL, a Great American Company that has an even more incredible future. I negotiated this Deal with Lip-Bu Tan, the Highly Respected Chief Executive Officer of the Company,” wrote Trump on Truth Social. “The United States paid nothing for these Shares, and the Shares are now valued at approximately $11 Billion Dollars. This is a great Deal for America and, also, a great Deal for INTEL. Building leading edge Semiconductors and Chips, which is what INTEL does, is fundamental to the future of our Nation. MAKE AMERICA GREAT AGAIN! Thank you for your attention to this matter.”
The reaction from the Right was largely negative.
“MAGA thinks that the government forceably taking a stake in a private company is a good thing? Its a precedent that Democrats will use, and I guarantee you, will make America LESS competitive in the long run,” declared National Review contributor Pradheep Shanker. “Its a huge mistake. Frankly, I’d rather Intel goes bankrupt.”
“Preposterous move. If Obama had done this, so many of the people defending it would have correctly condemned it as overreach and interference and ‘picking winners and losers,'” concurred National Review senior editor Charles C.W. Cooke.
Surely if former President Joe Biden had ‘invested’ in a major energy concern under the power of, say, a climate emergency, Republicans would have melted down over ‘socialism,'” observed The Washington Examiner‘s David Harsanyi in a column.
https://www.mediaite.com/media/news/terrible-idea-conservatives-rage-over-trumps-socialist-intel-purchase/
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