"Bret Stevens wrote this morning, American conservatism under President Trump is changing into something unrecognizable, at least to those of us silly us who thought the movement had guiding principles beyond getting, wielding, and abusing power. Umpteenth case in point, the federal government becoming an equity partner. Shareholder in Intel. If a Democratic president did this, Republicans would call it political shakedown, an assault on capitalism, a loser for taxpayers. They'd be right."
"Yeah, that's a real overreaction. So the bottom line is that if Intel doesn't succeed and we need Intel to succeed for national security reasons then equity has no value. The bottom line, is every now and then, if there's a national security matter and the government is doing something to try to, for example, get a COVID vaccine, throwing tons and tons of money at companies in case they get a COVID vaccine."
John Berman confronted White House National Economic Council Director Kevin Hassett with conservative criticism of the federal government's purchase of a 10% stake in Intel. Bret Stephens and other conservative figures said the purchase violates conservative principles and amounts to an assault on capitalism. President Trump dismissed critics as stupid. Hassett called the criticism a real overreaction and explained that if Intel fails the government's equity would have no value. Hassett argued the government sometimes funds companies for national-security or public-health reasons, such as vaccine development, and that government equity can reduce program costs. Hassett insisted such actions are not socialism.
Read at www.mediaite.com
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