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https://hbr.org/2020/01/why-stock-buybacks-are-dangerous-for-the-economy?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+harvardbusiness+%28HBR.org%2

• salawat 7y ago
  Nice. >Stock buybacks done as open-market repurchases emerged as a major use of corporate funds in the mid-1980s after the Securities and Exchange Commission adopted Rule 10b-18, which gives corporate executives a safe harbor against stock-price manipulation charges that otherwise might have applied. The 1980's, every damn time. I swear the 80's may as well be called the decade of economic time bomb construction. They are also preaching to the choir with stock buybacks being toxic. The incentives really never seemed to line up as anything approaching good for anybody but someone trying to time the market. It is interesting that the behavior would have previously been classified as market manipulation prior to the 80's rule change.