Sen. Rand Paul, R-Ky., challenged President Donald Trump’s decision for the U.S. to take a 10% stake in chipmaker Intel, calling it a “bad idea” and “a step towards socialism.”
Paul made the comments in a Wednesday interview with CNBC.
Intel said last month the U.S. government invested $8.9 billion in the company by purchasing 433.3 million shares of common stock at $20.47 each, securing a 10% stake. The company noted the purchase price was below the prevailing market rate.
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