Good Job Fed! The Casino, Financial Engineering And The Corruption Of The C-Suites

Wait, but if buybacks did not have a direct impact on outstanding shares, what were they used for? And here another stunning revelation by Lapthorne: "it looks like the bulk of last quarter’s repurchases went on stock options (aka wages)."......The SocGen strategist's conclusion: "looking at the table below it appears as if buybacks have indeed gone to pay higher wages, but we suspect not in the way policymakers hand in mind."

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