this post was submitted on 07 Jun 2025
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I mean if we count bailouts as nationalization, then now we've got like some kinda national "socialism" where state and corporate power have fused.
The GM situation was a more than a bailout, they took complete control of the company, took it private, liquidated some assets, then sold it off in a new IPO.
It's not all that different from a private equity firm doing the same thing, the major difference is the legal protections the US had (e.g. it got priority over all other creditors). If the US wanted to keep it and run it, it could've.