Danielle Park--IRS Wrongly Allows Stock Buybacks #2787

Danielle Park was back with us. Amazing news about the state of modern corporate finance. The IRS has been allowing tax-free stock buybacks in contravention of the US tax code, since 1976. This will eventually lead to massive economic damage, when the economy and the stock market turn down. We also talked about the "new" Justice Department policy of holding invididual corporate wrong doers responsible for the criminal acts of their businesses. What a novel concept that only goes back hundreds of years.