Destructive Stock Buybacks—That You Pay For by Ralph Nader

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Dandelion Salad

by Ralph Nader
The Nader Page
September 13, 2017

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.

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