Lever Time Comrade Trump Seizes The Means Of Production
10 snips
Sep 4, 2025 Bob Hockett, a finance law professor at Cornell, and Harold Meyerson, an Editor at The American Prospect, dive into the complexities of government ownership in big corporations. They discuss the U.S. government’s recent investment in Intel, raising questions about the balance between state involvement and capitalism. The conversation explores historical precedents, the implications of corporate subsidies, and the potential impacts on democracy—examining how personalism in governance under Trump shapes public policy and accountability.
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Chips Act Was A Strategic Rescue
- The Chips and Science Act aimed to rebuild US chip manufacturing after market share declined sharply.
- Bernie Sanders warned subsidies without taxpayer protections would just enrich shareholders.
Trump Extracts A 10% Intel Stake
- Donald Trump demanded 10% of Intel after a White House meeting and reportedly got it.
- Harold Meyerson explained the CEO agreed because he wanted to keep his job.
Inside Influence Beats External Regulation
- Bob Hockett argues public equity stakes let the state influence firms from the inside.
- He says internal involvement gives regulators better access and changes corporate mindsets toward public goals.
