“Just now read this fascinating interview by Janine Jackson of fair.org (Fairness & Accuracy In Reporting) with Lynn Parramore of the Institute for New Economic Thinking on how hedge fund managers are damaging American companies by pushing company managements to do stock buybacks. Basically, stock buybacks force up the price of a stock, allowing shareholders to make megabucks when they sell. Such buybacks were difficult until the Reagan administration loosened the regulations in 1982. Why are stock buybacks bad ? Because they divert money from research, from new investments and innovation, and from raising wages. The interview with Lynn Parramore goes into the details.” — Daily Kos
