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Linda Querry's avatar

Stock buybacks are a form of stock manipulation, which is why they were outlawed by the Securities and Exchange Commission after the Great Depression, up until deregulation in 1982, that limited buybacks to two percent of profits. Now it’s all the buybacks Wall Street can eat, with nearly 70 percent of all corporate profits going to this form of stock manipulation.

In Germany, companies must live within a legislated system of codetermination, meaning that half the seats on a company’s board of directors are held by worker representatives, and labor-management committees run the day-to-day operations of each facility. (BTW, this system was urged upon German businesses by the U.S. after WWII, because we believed unionized workers were less likely than their bosses to cozy up to fascists.)

Why can’t we demand Congress reinstate outlawing stock buybacks to 2%of profits, and demand companies be function within a legislated system of codetermination? We have certainly seen the rich and the now/new Republican Party cozying up to fascist ideology and leaders?

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Jean(Muriel)'s avatar

Same old story… Boeing, Intel, Housing. Jesus , when are the so called Congressional employees going to get that regulating crime is their job? Stop allowing corporations to manipulate stocks. We should all be alarmed at the corruption going on in our very own country. Come home America and clean house. Quit the bull that other countries are so bad when we can barely hold our heads up due to crime and corruption. I am sick to death of having my own country be the slimiest of all. Starting to stink so badly other countries are starting to hold their noses!

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