https://www.foxbusiness.com/politics/senators-seek-to-reign-in-corporate-share-buybacks
These two leftist loons are meddling in private business again. Stock buy backs are a business decision designed to enhance shareholder value. Below is an excerpt from the piece:
"Americans should be outraged that these profitable corporations are laying off workers while spending billions of dollars to boost their stock's value to further enrich the wealthy few," the senators wrote.
A corporation is not a benevolent entity. It is a "for profit" entity.
Another fact about these buy backs is the funds for the buy backs do not go into a black hole. They are either spent or reinvested by the sellers.
God I hate these Marxist freaks! Sometimes stock buy back is another way of wrestling back control over a company being driven into the ground.