As Economic Suffering Grips Regular Americans, Wall Street Behemoths Ready Feast of Stock Buybacks

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

Know someone who can use this information?
Scroll to Top