For millions of regular Americans, the end of 2020 was marked by economic distress, with millions suffering pandemic-triggered job losses--and thus the loss of their employer-tied health insurance--still waiting on robust economic relief from federal lawmakers, and facing a weak social safety net.
For the nation's biggest banks, however, the year closed out with reason for celebration, and they're looking to take advantage of the banner year with a feast of stock buybacks.
As Axios reported Friday,
Banks cashed in on the white-hot IPO market, record debt issuance, and sky-high trading volume--all of which played out as economic peril softened the consumer side of their businesses.
The big picture: Financial results show that banks, which rake in money as middlemen, made a killing th…
Source: Common Dreams – Breaking News & Views for the Progressive Community
Read full article: As Economic Suffering Grips Regular Americans, Wall Street Behemoths Ready Feast of Stock Buybacks
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