@rbreich
Stock buybacks should be illegal.
@breadandcircuses @cynblogger
A few other suggestions:
- create a legal obligation for executives that makes responsibility to workers, their local society and the health of the planet on the same level as feduciary responsibility to shareholders. Make them criminal offences, not just fines
- "Truth in labeling" laws that stop "opinion" masquerading as "news"
- #BanStockBuybacks , #RaiseCapitalGains , #RaiseInheritanceTax , #EndOffshoreAccounts.
@[email protected] @Npars01 @[email protected]
One (of many) simple steps to reduce #WealthInequality
Re: #StockBuybacks to manipulate stock value:
"All but banned in the US during the 1930s, buybacks were seen as a form of market manipulation. Buybacks were largely illegal until 1982, when the SEC adopted Rule 10B-18 (the safe-harbor provision) under the Reagan administration to combat corporate raiders."
#BanStockBuybacks
https://corpgov.law.harvard.edu/2020/10/23/the-dangers-of-buybacks-mitigating-common-pitfalls/
Shell announces record profits AND a $4B stock buyback. SHAME!
#InflationIsPriceGouging. #WindfallTax
#BanStockBuybacks
BBC News - Shell reports stronger than expected profits
https://www.bbc.co.uk/news/business-65478978
It took 19 paragraphs for NYTimes to mention that #BedBathAndBeyond took on $1.5m debt to fund a stock buyback.
#BanStockBuybacks
Bed Bath & Beyond Files for Bankruptcy https://nyti.ms/41VEuA1
@rbreich
Stock buybacks don't spur investment or innovation. They don't expand markets.
In fact, they compete with these things that grow a company.
#BanStockBuybacks
TC Won't Give In To Lies
Doug Grinbergs
