"Okay. Fine. I will tell you," replied White after some prodding from TNA. "A stock buyback occurs when a company uses its profits to buy its own stock in order to inflate the price of its shares. It is a manipulation of the market that results in stagnant wages for most Americans and keeps wealth at the top with the largest shareholders."
The seal of the government agency that will notprevent the next economic collapse. (Above)
White added, "What this means is stock values are largely based in a fantasyland. And many companies are quasi-legally doing stock buybacks instead of increasing wages or investing in things like research and development."
A letter was sent to President Obama by SEC Chair White last week explaining the lack of authority she had, as well as "the genuine lack of caring very seriously about it, anyway."