• Carolyn Maloney

House Hearing Highlights How Corporate Stock Buybacks Enrich the Wealthy While Rigging Economy Again

The House Financial Services Committee on Thursday held a hearing about one of the main ways the one percent keeps money in the hands of the richest Americans—stock buybacks—winning praise from progressives for shining a light on the practice...


... Rep. Carolyn Maloney (D-N.Y.) noted that stock buybacks can also be used to manipulate valuation for profit.


"Executives can use a buyback program to boost the company's stock price, right before selling their own stock at these artificially inflated prices," said Maloney.


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