Kamala is still on track to win. Boeing lays off workers. Shortage of medical saline is capitalism.
Don't despair, Kamala Harris is still on track to win. Boeing lays off workers after all those stock buybacks. The shortage of medical saline bags is the result of capitalism.
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'After Gorging on Stock Buybacks for Years, Boeing Announces Mass Layoffs: "The corporate cure is always the same—lay off workers," said one critic. "Stock buybacks and layoffs are joined at the hip. It's time they were outlawed entirely." [More]
Stop worrying. Kamala Harris will be president, and it's in the polls if we engage and vote: While the closeness of the polls scares many, it is unnecessary. Kamala Harris and most of us have the values, enough people, and the money to win big if we stop the fear and execute the play. [More]
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Thanks for connecting the dots between massive stock buybacks and massive layoffs.
As you may know, buybacks are fraudulent market manipulation -- prohibited until November 1981, when Reagan's SEC quietly issued Rule 10b-18. Wall Streeters call it the wink-wink "safe harbor" rule. Why "safe harbor"? Because insiders know this rule doesn't make buybacks any less a fraud. It merely lets the fraudsters off the hook with no prosecution or penalty. That's the "safe harbor" -- total impunity.
Fast-forward four decades. No presidential administration has rescinded Rule 10b-18. No Congress has revoked it. Buybacks are now sucking a trillion dollars a year from the productive economy, including worker wages and benefits.
And the grift goes on. (Cue the 1967 Sonny & Cher hit, "The Beat Goes On".)
I respectfully suggest we need massive popular support to kill the "safe harbor" rule **and** claw back the filthy money fat-cat Wall Street fraudsters have gained as a result.
CLAWBACKS NOT BUYBACKS. I am serious about this.