Stock buybacks surge: Is that a good thing?

Chris Huber

In this May 29 USA TODAY article, columnist John Waggoner interviews theAIRnet president William Lazonick and refers to his work on buybacks :

According to Wall Street legend, a speculator named Daniel Drew got his start by driving cattle into Manhattan, back when there really were cattle drives there. Just before they got to the market, he’d let his skinny, rangy cattle drink as much water as they wanted after the long, hot drive, giving them a nice, plump appearance — and plenty of water weight, too.

Click for full text