Dealbook by Andrew Ross Sorkin
NYT
Snipppet
Lutnick’s goal is becoming clear: to set up a so-called investment accelerator, which he has described as a “national and economic security fund” within the Commerce Department, according to The Times. It’s led by Michael Grimes, Morgan Stanley’s former star tech banker, and David Shapiro, a former partner at the law firm Wachtell, Lipton, Rosen & Katz.
That project is meant to be funded by the hundreds of billions of dollars that countries like Japan and South Korea have pledged to invest as part of their trade deals, The Times reports. It has taken control of tens of billions of dollars from the CHIPS Act, which led to the Intel deal; Lutnick has suggested that the government may also seek holdings in defense and shipbuilding companies.