Bad news, Mises vindicated!
U.S. Commerce Secretary Howard Lutnick is looking into the federal government taking equity stakes in computer chip manufacturers that receive CHIPS Act funding to build factories in the country, two sources said.
Expanding on a plan to receive an equity stake in Intel (INTC.O), in exchange for cash grants, a White House official and a person familiar with the situation said Lutnick is exploring how the U.S. can receive equity stakes in exchange for CHIPS Act funding for companies such as Micron (MU.O), Taiwan Semiconductor Manufacturing Co (2330.TW), and Samsung (005930.KS). Much of the funding has not yet been dispersed.
Here is more from Reuters. It was bad to do this with General Motors, and bad when many of you, way back when, suggested doing this with the bailed out banks. It is still bad, and getting worse.