How CEO stock buybacks parasitize the economy

By Ralph Nader (originally published by Evonomics) - The monster of economic waste—over $7 trillion of dictated stock buybacks since 2003 by the self-enriching CEOs of large corporations—started with a little noticed change in 1982 by the Securities and Exchange Commission (SEC) under President Ronald Reagan. That was when SEC Chairman John Shad, a former Wall Street CEO, redefined unlawful ‘stock manipulation’ to exclude stock buybacks…

[Cross-posted from Evonomics publication of October 6, 2017
at http://evonomics.com/ralph-nader-ceo-stock-buyback-parasitize-economy/]

Evonomics article reprinted from silveristhenew publication of October 9, 2017 at http://silveristhenew.com/2017/10/09/ralph-nader-how-ceo-stock-buybacks-parasitize-the-economy/

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