Political opposition to share buybacks has become so fierce in the US that it was unsurprising to hear Alexandria Ocasio-Cortez ramp up the rhetoric at the end of last week, bizarrely describing the practice as “a huge Ponzi scheme.” The doyenne of the Democratic left was specifically referring to pharmaceutical companies that return cash to shareholders. Given the perception of “Big Pharma” among the US left, her choice of target was predictable. However, complaints about buybacks across the pond are not limited to AOC’s side of the spectrum; large elements of the Republican party have also decried buybacks as a Wall Street trick to further enrich wealthy shareholders at the expense of investment, economic growth and higher wages. Buybacks have soared in recent years, coming in at $223bn at the end of last year according to S&P Global research – nearly double the level of three years ago. Thus one could have expected it to become a hot topic. … [Read more...] about Buybacks are vital for our economic health
Ponzi scheme example
Their names are Chen Bo, Yuan Yuan, Ding Zanqing, Peng Yixuan, Wang Renmi and Dong Jianhua. They are alleged to have operated a massive US $2.9 billion Ponzi scheme involving a cryptocurrency called PlusToken.They were arrested by Vanuatu Police and Immigration agents in a joint operation after their house on the wharf road was raided in the early hours of the morning.Five unidentified Chinese law enforcement officials were present during the raid. They entered the premises afterward, to assist Vanuatu officials with identifying Chinese language documents and materials.On the same day the raid occurred, cryptocurrency analysts reported a sudden stop in online activity relating to PlusToken.PlusToken is a cryptocurrency wallet created in April 2018. It paid its members to deposit their coins into its wallet, and it purported to make money for depositors using arbitrage.Invest more than US $500 worth of cryptocurrency, the promoters said, and you can participate in the ‘smart … [Read more...] about Who Are the PlusToken Six?
Politics of personal convenience is what politicians, or the vast majority of them, practise. Politicians care little about true values, so why value politicians? The horror is that the more time passes the more we see that, all over the world, politicians are the endemic problem. The world is full of problems and the ones who should strive to solve them compound them more. Unless drastic action is taken, the world will go out in a flash, a heat wave or a flood. And this time the cataclysmic incident will not be driven by some vengeful God who then quickly makes up with us and gives us another chance. Politicians, not just locally but wherever, from the US to Britain to Italy and Israel and Turkey, rarely serve anyone but their own agenda, their own skewered vision. Their sole aim is to retain their seat of power or their cushy seat in whichever chamber they sit. Even the dreamers who set out wanting to change the world for the better become masters of convenience, compromise and … [Read more...] about Politics of convenience
Andrea Mandell USA TODAY Published 8:12 AM EDT Apr 5, 2019 Remember when NSYNC triumphantly announced they had "No Strings Attached?" The early 2000s had everything to do with Lou Pearlman, the man who created the Backstreet Boys and NSYNC, who would later die behind bars in South Florida in 2016 while serving a 25-year sentence for organizing a $300 million Ponzi scheme. Now, the era's preeminent boy bands – as well as LFO, Innosense, Take 5, C-Note and O-Town – are giving their version of events of how the mogul stole millions from them in "The Boy Band Con: The Lou Pearlman Story." Produced by NSYNC member Lance Bass, it's currently streaming on YouTube. In the film, Backstreet Boy AJ McLean explains how charming the Orlando-based producer could be. “If Lou wasn’t the entrepreneur that he was he would’ve been the best car salesman you’ve ever seen." Here are five major revelations from the film. Once they … [Read more...] about Backstreet Boys, ‘N Sync detail how Lou Pearlman stole millions