1. Bill to Ban Stock Buybacks Introduced

    Bill to Ban Stock Buybacks Introduced

    REUTERS Sen. Tammy Baldwin is the latest lawmaker to take aim at corporate buybacks. The Democratic senator from Wisconsin — and frequent critic of share repurchases— is introducing a bill to ban open-market stock buybacks. On Tuesday, Baldwin also released a report that examines the impact of stock buybacks on workers, companies and the economy. Baldwin and other Democratic senators will hold a hearing examining buybacks on Tuesday afternoon...

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    1. The evidence also shows that Wall Street insiders and corporate executives have abused the American system of corporate governance, spending trillions on buybacks to benefit themselves at the expense of employees and other corporate stakeholders.
    2. The SEC's misguided rules on buybacks allow executives and wealthy shareholders to extract undeserved cash from public companies. Given these results, it is clear to me that empowering workers—as envisioned in the Reward Work Act—would lead to better economic opportunities for many Americans.
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