The dirty little secret of how CEOs enrich themselves at your expense (Interview of William Lazonick)

By Lynn Parramore

“Everyone from Warren Buffett to Robert Reich is talking about a favorite Wall Street trick called stock buybacks. But what are they and what do they mean to you?

William Lazonick is a leading expert on the history of the American business corporation. A professor of economics at the University of Massachusetts Lowell, where he directs the Center for Industrial Competitiveness, he has long been watching a trend that has only recently been attracting media attention and forcing many to reassess the nasty form of capitalisim that has been unleashed on us in recent decades.”…

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