alt Hacker Newsa) How courageous for them declaring wanting to ban something that isn't being proposed
b) if an AI bubble burst were to happen, the fallout would be severe, ie. hard to abstain for policy makers from giving the public ease of mind
c) All this proposal wants is to drive a wrench between the GOP and its new (?) populist voters, that don't want any favors given to any Big Tech oligarchs, regardless of it being AI or not.
d) this may work or not – neither party is going to abstain from bailing them out, anyways.
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Not sure why you're downvoted because you're right. If there wasn't a major election next week this would not even be happening. It's meaningless theatre to get the public cheering or jeering on their way to the polls.
In the 2008/2009 crisis the bailouts were approved by a red admin (Bush) and then the check signed, delivered hat in hand, by a blue admin (Obama). If they want a bailout they will get a bailout no matter which party is in charge.
This was my thought. The last recession bailout was by democrats (in 2008), and they did so to influence the industry in their direction. I have a hard time imaging republicans would do a bailout, because they have no interest in creating new regulations even in their benefit.
I seem to recall OpenAI's CFO inadvertently proposing a bailout about a year ago. I'm fairly confident that the industry has been considering the possibility of one since before that statement.