Posted on 09/03/2025 10:15:09 AM PDT by RandFan
Sen. Rand Paul, R-Ky., on Wednesday criticized the Trump administration’s decision to take a 10% stake in embattled chipmaker Intel , calling the investment “a step towards socialism.”
Intel announced last month that the U.S. government made an $8.9 billion investment in Intel common stock, purchasing 433.3 million shares at a price of $20.47 per share, giving it a 10% stake in the company. Intel noted that the price the government paid was a discount to the current market price.
Paul said government ownership is “a bad idea.”
“It’s always a mistake to say, ’Well we have this one bad policy, all right, we’ll tolerate a little socialism, but we don’t want anymore,” Paul told CNBC’s “Squawk Box” on Wednesday. “I think it’s a bad idea.”
(Excerpt) Read more at cnbc.com ...
Who’s Rand Paul?
Dopey looking kid with a soft voice steeped in corruption?
That him?
I do NOT want the US goobermint invested in ANY private business.
The federal government has been in the bailout business for decades now. Maybe it shouldn’t be - probably it shouldn’t be - but let’s not pretend that this is anything new and unprecedented.
He comes in regularly to bash Trump. Every few months or so. Like clockwork
Nor do I.
Obama and Chrysler
Obama and GM
Bailouts
When did GM pay back the government?
Agreed. First reaction is that it was a bad idea, but would like to know what was the business case was.
“””Who’s Rand Paul?
Dopey looking kid with a soft voice steeped in corruption?
That him?”””””””””””
He is part of the Kentucky Idiot Brigade. mASSie, Mitch, Rand.
That’s the truth. What do we do to keep .gov out of the market, picking winners and losers? We tried voting. That doesn’t work.
> Paul said government ownership is “a bad idea.” <
He’s right. The federal government does things right when it comes to the US Marines. But they muck up everything else. They just can’t help themselves.
So no government ownership of private businesses.
Rand Paul keeps trying to get publicity to increase his campaign donations, so he can spend it on luxurious foreign vacations.
U.S. Sen. Rand Paul still travels large, courtesy of his political donors
Fundraising takes him to European capitals, Western ski resorts
Republican U.S. Sen. Rand Paul’s reelection committee spent nearly $50,000 this summer on luxurious hotels, restaurants and travel services during a trip to Sweden and Denmark.
Expenses included $13,627 paid to Stockholm’s five-star Grand Hotel; $17,742 paid to a luxury travel service known as “Mr Charles,” of Stockholm, and $7,474 at some of the finest restaurants in Stockholm and Copenhagen, according to a report Paul filed recently with the Federal Election Commission (FEC).
The FEC forbids candidates for federal office from using their campaign funds to pay for personal trips or any personal expenses.
But the spokesperson for Paul’s office said the Scandinavian travel was for the permissible purpose of fundraising — even though U.S. law bars citizens of other countries from giving to campaigns for federal office.
https://kentuckylantern.com/2024/12/03/u-s-sen-rand-paul-still-travels-large-courtesy-of-his-political-donors/
This is not unprecedented. The US government bought a 60% stake in GM for $50B back in 2009.
This buying into Intel (for different reasons) helps secure our capacity to fabricate chips on US soil.
The federal government built, owns and operates the TVA. Want them to sell it after 100 years?
The Feds own about 35% of all land in the country. Sell it?
The feds own Freddie Mac, Fannie Mae and HUD which underwrite 90% of home mortgages.
If we have to bail the bastards out or subsidize it we should get a ROI.
Rand seems to choose which socialistic policies offend him rather randomly.
Yes. 100 years of wrong does not justify future wrong.
"Sell it?"
Yes.
From its earliest days the government owned and ran arsenals that produced powder, shot & weapons for the military. (See Springfield Arsenal!) This was done so there would never be a foreign source for needed weapons. The lesson that USG had to go elsewhere (France, Spain, etc.)for powder, shot & arms during the Revolution was well learned. The government would of course scale up with private contractors if there was a war. I view semiconductor science and techology as the modern equivalent of powder, shot and arms. So an arsenal approach to maintain an internal capability as was done in the past makes sense. The problem will be how do we police it so its not another “cash-for-pals” government boondoggle.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.