End "legal" stock manipulation via stock buy backs
From the late 1930s until 1982, stock buybacks were illegal, and for good reason. A corporation using its leveraged capital (debt that can be written off to avoid taxes on profits) to "buy back" its own stock to increase the company stock price is a clear form of stock manipulation that only rewards stockholders and executives.
Historically speaking, the valuation of stock was based principally on the actual performance of the company, but since 1982 this practice has deteriorated the fundamentals of the stock market and how it operates. After the SEC's rule making stock buybacks legal, manipulation of a companies stock has become all too commonplace strategy for company executives to create massive windfalls for themselves and shareholders, to the detriment of the business, workers, and society.
It's long since time to return the stock market and corporate focus from inflating their stock prices and get back to making quality products and actually running a sound business that creates value through real work.
Historically speaking, the valuation of stock was based principally on the actual performance of the company, but since 1982 this practice has deteriorated the fundamentals of the stock market and how it operates. After the SEC's rule making stock buybacks legal, manipulation of a companies stock has become all too commonplace strategy for company executives to create massive windfalls for themselves and shareholders, to the detriment of the business, workers, and society.
It's long since time to return the stock market and corporate focus from inflating their stock prices and get back to making quality products and actually running a sound business that creates value through real work.
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