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Original 'Dr. Doom' Says Next Fed Chair Must Break Up Banks "To Be Small Enough To Fail"

Original 'Dr. Doom' Says Next Fed Chair Must Break Up Banks "To Be Small Enough To Fail"

Henry Kaufman, the former chief economist of Salomon Brothers in the 70's and 80's who earned the moniker of "Dr. Doom" for his frequent criticisms of the Fed's interest rate policies, has some advice for President Trump on how to pick the next Fed Chair: find someone willing to break up the "too big to fail" banks.

Ralph Nader: How CEO Stock Buybacks Parasitize The Economy

Ralph Nader: How CEO Stock Buybacks Parasitize The Economy

Authored by Ralph Nader via Evonomics.com,

The monster of economic waste - over $7 trillion of dictated stock buybacks since 2003 by the self-enriching CEOs of large corporations - started with a little noticed change in 1982 by the Securities and Exchange Commission (SEC) under President Ronald Reagan. That was when SEC Chairman John Shad, a former Wall Street CEO, redefined unlawful ‘stock manipulation’ to exclude stock buybacks.

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