John,

Stock buybacks allow the rich to get richer by increasing the value of their shares and concentrating ownership, often at the expense of reinvesting in the company and its employees.

Throughout the 2010s, corporations have squandered a staggering $6.3 trillion on stock buybacks.

Companies like Boeing and Abbott Labs have become notorious for this, engaging in extensive buyback programs only to see their stock prices plummet soon after, wreaking havoc on ordinary investors and eroding public trust.

This unfettered exploitation underscores a chilling reality: without transparency, corporate executives continue to manipulate buyback schemes for personal gain, at the expense of everyone else.

The SEC must act decisively to re-propose a rule that ensures full transparency around stock buybacks, safeguarding the interests of investors, consumers, and the broader public.

A decision by the Fifth Circuit Court of Appeals to strike down a rule mandating the disclosure of executive trading around buyback announcements only deepens this crisis. It's a clear sign that the scales of financial justice are tipped in favor of corporate giants and against the public good.

The fight against Wall Street's greed is a fight for working people. Without stringent regulation and transparency, stock buybacks will continue to serve as a tool for the rich to enrich themselves at the expense of the public and the health of our financial markets. By allowing corporate executives to operate in the shadows, we are all at risk.

We cannot stand idly by while the fabric of our economy is undermined by greed and manipulation. It's time to demand accountability, transparency, and fairness in our financial markets.

Tell the SEC to re-propose the stock buyback disclosure rule and take a stand against Wall Street's unchecked power.

Together we will protect investors, bolster consumer confidence, and ensure a fairer, more transparent financial system.

- Amanda

Amanda Ford, Director
Democracy for America
Advocacy Fund