"In the capitalist American economy, markets pick winners, and the federal government typically stays out of the way of business. But during times of crisis or war, the government has occasionally felt the need to step in. During World War I and II, it seized rail and telegraph networks, and nationalized industries, like coal mining, when strikes threatened the war effort."
"The Federal Deposit Insurance Corp, established in the wake of the Great Depression, has since taken over and wound down failing American banks with an eye towards protecting depositors and keeping the economy stable. And when companies deemed "too big to fail," including insurer AIG and automakers Chrysler and General Motors, teetered on the brink of collapse during the Great Financial Crisis of 2007-09, the government took ownership stakes in them to help prop them up."
The U.S. federal government has historically intervened in the economy during crises by seizing critical infrastructure and nationalizing industries when necessary to protect national interests. The Federal Deposit Insurance Corp was created after the Great Depression to take over and wind down failing banks to protect depositors and stabilize the economy. The government acquired ownership stakes in firms like AIG, Chrysler, and General Motors during the 2007–09 financial crisis to prevent systemic collapse. In late August, the administration purchased roughly a 10% stake in Intel, converting CHIPS Act grants into equity to boost domestic semiconductor capacity amid competition with China and the race for artificial intelligence. Intel was founded in 1968 in Mountain View and played a central role in building Silicon Valley.
Read at www.npr.org
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