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Business resiliency means banning stock buybacks

By Lenore Palladino

As millions face unemployment and dire financial prospects amid the coronavirus pandemic, hotels, airlines, and other large corporations are repeating the script of 2008: asking for massive public bailouts after years of extractive shareholder payments. Before the government buoys these companies with the public’s money, we must ensure that they are resilient in the future by examining and forbidding some of their most societally harmful practices. The explosion of stock buybacks in recent years deserves particular attention.”…

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