Kevin Hassett, director of the Nationwide Financial Council, not solely defended the Trump administration’s transfer to make use of taxpayer cash to purchase a ten% stake in U.S. chip maker Intel—but in addition stated extra might comply with.
“Okay, so we should expect the U.S. government to be taking more equity stakes in businesses around the country?” CNBC’s Andrew Ross Sorkin requested Hassett on Monday.
“It is doable. Yeah. That is completely proper,” Hassett replied.
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“I can really not see how anyone would think that’s a bad thing, unless you thought that the government was then going to go in and run the company,” Hassett continued. “However these are going to be shares that do not have voting rights. The federal government’s going to remain out of it.”
President Donald Trump additionally crowed in regards to the Intel transfer on Monday.
“I will make deals like that for our Country all day long,” he wrote on social media.
So whereas Trump’s tariffs proceed to punish the working class, his tech-billionaire backers proceed to money in on beneficiant authorities offers—no strings connected.
