Stock buybacks are sold as an efficient way to return capital to shareholders. That's the problem with a lie. A good lie has just enough truth in it to sell the fantasy. A stock buyback is CEO code that they have run out of ideas on how to grow the company. The easiest way to hit a performance target and make their bonus, is to buyback stock.

00:00 President Biden's comments
00:22 Bill Clinton
01:00 Performance based pay
01:16 Inside joke
02:11 It sounds great
02:28 Cold hard cash
02:43 Regulating income isn't the goal
02:56 Sky is the limit
03:28 The Lie
03:42 ESG
04:32 Companies that paid the price
04:49 Warren Buffett buys IBM
06:32 Hall of Shame
07:23 The Truth
07:52 Energy
08:49 The President's plan
09:05 The road to hell
09:39 Do something about it