The Scourge of Corporate Financialization: Income Inequity, Employment Instability, Productive Fragility | naked capitalism
The Scourge of Corporate Financialization: Income Inequity, Employment Instability, Productive Fragility | naked capitalism
www.nakedcapitalism.com The Scourge of Corporate Financialization: Income Inequity, Employment Instability, Productive Fragility | naked capitalism
Stock buybacks, aka corporate financialization, as a mode of predatory value extraction
Interesting in-depth read on stock buybacks and the main perpetrators (Apple is #1 of course). Stock buybacks are corporate corruption, where senior executives cash in the profits of the company by getting paid in stocks and then colluding to use the company profits to buy stocks (thus artificially inflating the value of stocks) and then dumping them. Literally a pump and dump scheme.
When someone mentions that there is no corruption in the private sector, send them this article.
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