Corporate executives are using tax cuts and share buybacks to pad their own compensation, a top regulator said Monday.
Duh, it’s the reason why the stock market is up. Companies are not investing in themselves anymore, they’re buying back their own stock to make the share price go up. That’s what happens when CEOs’ compensation (or even job) is based on the company’s stock price.
Source: SEC official: Clamp down on officials who cash in on stock buybacks