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Somebody needs to explain this to Scott Wapner. I'm sorry I missed Chamath earlier. https://twitter.com/RudyHavenstein/status/1237565628434636805
If you ever suggest to Scott that anyone on Wall Street should lose one dollar, he goes insane.
Here's the interview. Not sure if they edited it like they often do.
"It’s not conjecture that every major airline shifted its management focus from operational, long-term core business issues to financial, short-term market issues. It is fact." - @EpsilonTheory
https://epsilontheory.com/do-the-right-thing/
$LUV $DAL $AAL $UAL
https://epsilontheory.com/do-the-right-thing/
$LUV $DAL $AAL $UAL
"The big four airlines...spent $43.7 billion on buybacks just since 2012. If that sum sounds familiar, it’s because it equals almost exactly the size of the $50 billion bailout airlines are being given as part of the CARES Act relief package." https://taibbi.substack.com/p/the-sec-rule-that-destroyed-the-universe
"...the public has been trained to think companies have been crippled by investment losses, when the biggest drain has really come via a relentless program of intentional extractions." - Matt Taibbi
"Lehman Brothers, for instance, announced a 13% dividend increase and a $100 million share repurchase in January 2008, when the firm was already circling the drain. Many of the TARP bailout recipients kept up buybacks even during the bleakest days of the financial crisis."
“If you added up the capital distributions of the banks in just the few years before the crash,” says Kelleher, “it adds up to half the TARP. They wouldn’t have needed a bailout if they’d [curbed] distributions.” cc @neelkashkari
This is from Forbes, not a communist publication:
https://taibbi.substack.com/p/the-sec-rule-that-destroyed-the-universe
https://taibbi.substack.com/p/the-sec-rule-that-destroyed-the-universe
Now they're best buds.
It's an informercial. @Chamath is part of the charade.
"The sooner we regain our sanity, kick our addiction to short-term shareholder primacy, the sooner we can start to invest in genuine economic growth where prosperity grows for everyone...rather than through a rigged boom on Wall Street." https://blog.evergreengavekal.com/stock-buybacks-are-banned-let-it-be-a-trend/
