S&P 500 companies bought back $181B of their shares in Q1 to pump up their value.
Buybacks are projected to reach $925B this year.
In 2025, they’re estimated to hit over $1 TRILLION.
Why is this driving inequality?
It's simple: the top 1% alone own roughly half of all stocks.
Hunter Biden Moves to Enjoin David Weiss Under an Appropriations Argument Trump Adopted
Before Trump made his frivolous challenge to Jack Smith's Special Counsel appointment on appropriations grounds, Hunter Biden challenged David Weiss' appointment with more merit. That could make the parallel track of these prosecutions -- with Hunter Biden's prosecutions rushing towards conclusion next month and Trump's stalled past the election -- more interesting.
4 years ago, an exec for a top PPE producer testified to Congress that in Jan 2020 (as fear of covid began to spread) his firm offered to ramp up production to make 1.7 million N95 masks available to the public per week.
The Trump admin said no.
A new DoT rule will require airlines to disclose more fees upfront.
The rule will save passengers $500M a year by making it easier to comparison shop and avoid hidden fees.
Major airlines are up in arms and have sued.
Their power to rip us off is being challenged. About time.
Apple shares lost 10% of their value.
Then Apple announced plans to buy back $110 billion of its own stock.
After that, Apple shares had their best day since 2022.
There's a reason stock buybacks used to be considered illegal stock manipulations.
They should still be banned.
The CFPB set a rule limiting credit card late fees to save American families ~$10 billion/yr.
The U.S. Chamber of Commerce sued to stop it.
Republicans in Congress are trying to kill it.
The government is tackling junk fees, and corporate interests couldn't be more upset.
TODAY: Biden announces major action on student debt relief.
What's in the news?
Trump's shifting abortion stance, Trump suing his judge, Trump's fundraising claims.
TOMORROW: Look for another story about how voters don't feel like Biden's done anything.
See how this works?