Conservatives and economists warn Trump admin. against buying stakes in U.S. companies beyond Intel

[BumRushDaShow]

Source: CBS News

August 29, 2025 / 6:00 AM EDT


Washington — The Trump administration's 10% stake in Intel, announced not long after President Trump had called on the chip maker's CEO to resign, is being criticized by conservatives and some economic policy experts alike, who worry such extensive government intervention undermines free enterprise.

Kevin Hassett, director of the White House National Economic Council, may have fueled those misgivings, telling CNBC this week that although Intel is a "very, very special" circumstance, that "there'll be more transactions, if not in this industry, then other industries." The possibility of the U.S. acquiring stakes in additional U.S. companies was immediately met with criticism.

Adam Posen, president of the Petersen Foundation for International Economics, responded immediately to Hassett's comment, posting on X, "ARE you effing kidding me? We are going past 1984 into Animal Farm territory at this point," referring to the George Orwell satirical novel critiquing totalitarianism. "Did anyone vote for this? Anyone?"

Daniel Di Martino, a fellow at the right-of-center Manhattan Institute, predicted that if that happens, the U.S. would see more cronyism, with the result that "companies will underperform because they know they will be bailed out," and "taxpayers will lose billions." "You can't just be against socialism when the left does it," conservative talk show host Erick Erikson said of the Intel agreement. "If you're not against socialism overall, guess what? You're going to get socialism. So if you support socialism, apparently Donald Trump is your guy."

Read more: https://www.cbsnews.com/news/trump-intel-stake-consertatives-economists-response/

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Privatize the profits and socialize the risk.

[BoRaGard]

1. "Screw you, ya stupid suckers." - Krasnov (r-felon/rapist/golf cheat)

[William Seger]

2. "Conservatives" are as powerless as liberals now -- MAGA is purely reactionary (nt)

[Midnight Writer]

3. Too late. That cat is out of the bag.

Trump has convinced his addled mind that he has made a genius move here, and he is surrounded by toadies who tell him he always makes genius moves.

[JoseBalow]

4. Nationalist Socialist

[IronLionZion]

5. Protect America from socialism by having government seize the means of production

[hildegaard28]

6. Hate to

Break it to you, Erick Erikson, but what Trump is doing isn't socialism. What he's doing is Communism. That's right, communism is when the government owns and controls the means of production. Trump is seizing and controlling the means of production. Trump is a Commie.