Professor William Lazonick explains how companies have turned from employment security, how corporate leadership structures are hurting the entire economy, what stock buy backs, how stock buy backs are different from traditional stock purchasing, how Ronald Reagan deregulated the stock market, why the FCC can’t monitor buybacks, why stock rewards have become more and ore popular, the similarity between stock buybacks and pump and dump schemes, how these schemes keep wages down, the real story behind executive pay, why Reagan economic policies failed to put money in the economy, why real wages used to track productivity growth, the 1980s focus on stock price and the destruction of wages and the radical financial reform that is needed…
This clip from the Majority Report, live M-F at 12 noon EST and via daily podcast at http://Majority.FM
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