Stock buybacks used to be illegal for a reason. It's financial sleight of hand.
Since they were legalized in 1982, stock buybacks have become a symptom of a deep malaise: rampant corporate, shareholder, and CEO greed. They don’t create new value.
They reshuffle existing value at the expense of long-term growth and stability.
https://www.joanwestenberg.com/the-billion-dollar-con
Joan Westenberg /
npub1mf…yeu5h
2024-06-30 22:49:06
Author Public Key
npub1mf3yh9hywzgagz3xajrg6sn82yffykhlj7wcwypy75uzfee5r3cqfyeu5hPublished at
2024-06-30 22:49:06Event JSON
{
"id": "905c1a086668c314e61e29ca6e2bc38df7d832032361b17d974504ba9b4e13a7",
"pubkey": "da624b96e47091d40a26ec868d42675112925aff979d871024f53824e7341c70",
"created_at": 1719787746,
"kind": 1,
"tags": [
[
"proxy",
"https://mastodon.social/users/Daojoan/statuses/112708009764715022",
"activitypub"
]
],
"content": "Stock buybacks used to be illegal for a reason. It's financial sleight of hand.\n\nSince they were legalized in 1982, stock buybacks have become a symptom of a deep malaise: rampant corporate, shareholder, and CEO greed. They don’t create new value. \n\nThey reshuffle existing value at the expense of long-term growth and stability.\n\nhttps://www.joanwestenberg.com/the-billion-dollar-con",
"sig": "e1699e4c41bcc6bc60395185ca304c49c51d715f86caede4e0852d12769a9971bd9906efde660b13c327c287fac24f26027d8a13ae0d07e76adbae2a18fef529"
}