Hacker News Reader

Hacker News

Comment by xyst | Hacker News Reader

Full thread

xyst

If US steps in to buy a troubled asset such as Intel after failing to convince TSMC to buy, this country is cooked.

Did we learn _nothing_ from the 2008 subprime mortgage crisis? Let them fail.

View on HN

I think 2008 showed ... how it works.

The unfortunate part is that the GOP has now repealed whatever protections were put in place on banks after that.

when I read "how it works" I assume you mean that it was a success? bailing out GM in the way they did pushed their novel vehicle platform technologies to fall to the wayside and for them to refocus on combustion. New brands were on the horizon, there was a hope for a new modern vehicular order but the midrange of the market was squatted by GM's insufficient vehicles. I don't think 2008's bailout worked, at all.

It worked for GM, and therefore for the politicians who got favors and influence from doing it, etc. A particular sense of "worked".

The government made a shit ton of money from 2008 by not letting them fail and buying preferred shares. Hell fannie mae and freddie mac throw off tons of cash for the government to this day.

Didn't we _not_ let industries fail during that time? How about the Big 3 bailouts and the emergency infusions for banks? And these actions decidedly helped save our economy.

Whether it's good from a moral perspective or a long term perspective I guess is another matter, but I suspect if the government hadn't stepped in, we'd still be in the throes of the subprime crash even today. This is speaking as someone who is deeply anti-corporate.

This is akin to letting all US banks fail and then saying we'll just use foreign banks for everything. Intel is a strategic company for the US.

>Did we learn _nothing_ from the 2008 subprime mortgage crisis? Let them fail.

2025 says "hold my beer"

If by "we" you mean anyone in the current administration, the answer is an obvious no. Learning is not their thing.

Reply on news.ycombinator.com