Buybacks were never the problem. Buybacks as part of acquisitions, using the acquired companies resources to take complete control for less than its market val

Buybacks were never the problem. Buybacks as part of acquisitions, using the acquired companies resources to take complete control for less than its market value, are a ridiculous accounting trick which should never have been permitted. Buybacks combined with tiered stock are also pretty fraught. Buybacks by existing leadership in pure-common-stock orgs are fine.