“Like every great crisis, the coronavirus pandemic has laid bare everything rotten and degenerate in capitalist society. Nowhere is that exposure more pronounced than in the case of the stock market—that vast institutionalised mechanism through which the wealth of society,…
Author: admin
No, we shouldn’t bail out Boeing
By Mandy Smithberger and Ryan Summers March 31th, 2020 “The coronavirus epidemic has already transformed the country, disrupting industries nationwide and causing thousands of Americans to lose their jobs. Congress recently approved over $2 trillion in spending to help businesses,…
Let this stimulus bill be just the first arrow to strike against stock buybacks
By Editors “The members of Congress who fought for a ban on stock buybacks in the $2.2 trillion coronavirus relief package did the right thing for Americans. But the ban should be considered a mere starting point in limiting corporations’…
CEOs Gorged on Buybacks for Years. Now They Want Bailouts.
“Congress is poised to impose restrictions on stock buybacks as a part of the multi-trillion-dollar recovery package that is being voted on this week. To understand why those limits are necessary, look no further than the airline industry, which is being singled…
Top Economist: Instead of Basic Income, Let’s Keep People Working Productively During the Crisis
“As the pandemic rages, everyone is scrambling to figure out how to protect people getting economically pummeled. Americans may soon get a cash injection to help them fight the economic devastation of Covid-19 as part of a stimulus bill agreed…
Building and tearing down walls
By Harold Meyerson “One of the makes-sense-but-we-didn’t-expect-it consequences of the coronavirus pandemic has been the at least rhetorical support that centrists, conservatives, and Republicans have given to what until a couple of weeks ago had been left-wing ideas—many of them…
4 Ways to Eradicate the Corporate Disease That is Worsening the Covid-19 Pandemic
“It’s time for business executives, employees, and taxpayers to come together to help get us out of the pandemic and create conditions for a sustainable and equitable future Here are the key ways to respond to the coronavirus crisis and…
When will financial markets hit bottom: The past may not hold any clues
By Gretchen Morgenson “The coronavirus has ripped United States financial markets from their moorings. Even veteran investors say they’ve never seen the turbulence across all markets that we have experienced in recent days, making it extremely difficult to use the…
President Trump joins Democrats in calls to block share buybacks
By Jacob M. Schlesinger “As Congress rushes to bail out industries slammed by the coronavirus pandemic, President Trump has joined Democratic lawmakers demanding corporate aid include new restrictions on the stock buybacks that executives use to support the value of…
Business resiliency means banning stock buybacks
“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…