Stock buybacks are a parasite on the US economy

By Jan D Weir

“Last month, Sears, the giant retailer that was a shoppers icon for 125 years, filed for bankruptcy showing an unmanageable $5 billion in debt. Since 2005, under the leadership of former Goldman Sachs trader and Wall Street superstar, Eddie Lampert, Sears had spent $6 billion in share buybacks. Why would a high paid brilliant executive do such a remarkably stupid thing?”…

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