President Trump Says He is “OK” with Forbidding Buybacks as a Condition of Corporate Bailouts
Posted on 03/19/2020
U.S. President Donald Trump addressed the United States nation on the latest developments of the Wuhan coronavirus (COVID-19) outbreak. Trump said he would not oppose barring companies that receive federal assistance during the coronavirus pandemic from conducting stock buybacks. Many of the companies requesting aid including Boeing conducted massive buybacks over the past 6 to 8 years as the stock market rose.
During the White House press conference on March 19, 2020, Trump said, “It takes many many people in this case to tango, but as far as I’m concerned conditions like that would be okay with me.”