Share buybacks were illegal stock manipulation for the majority of the USAs existence, until Reagan legalized them. They need to be made illegal again, they ser

Share buybacks were illegal stock manipulation for the majority of the USAs existence, until Reagan legalized them. They need to be made illegal again, they serve no purpose other than short term stock manipulation. If companies have excess cash, they should issue dividends (which was a huge part of the reason stocks were initially desirable). People would then buy stocks with good dividends (i.e. long term value, versus short term quick gain).