By David Dayen
“Chuck Schumer and Bernie Sanders went to the same high school in Brooklyn, but that’s about all they shared in common until an op-ed in Monday’s New York Times. The subject is stock buybacks, the increasingly common procedure whereby public companies use their prodigious cash hordes generated by record profits to purchase their own shares, rather than increase wages or invest in equipment. It’s one way to leak profits out to investors while workers get the shaft.”…
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