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Wednesday, April 17, 2024

Elizabeth Warren rips stock buybacks as ‘nothing but paper manipulation’

  • Sen. Elizabeth Warren told CNBC that buybacks are market manipulation made to inflate executive pay.
  • She said stock repurchases do nothing to improve the quality of a business or the goods and services it produces.
  • Warren's comments came a day after she and Sen. Bernie Sanders proposed a 3% total annual tax on wealth exceeding $1 billion.

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