Trump says he is ‘OK’ with forbidding buybacks as condition of corporate bailouts
President Donald Trump said on Thursday that he would not oppose barring companies that receive federal assistance during the coronavirus pandemic from conducting stock buybacks.
“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,” Trump said during a White House press conference when pressed on whether he would support a provision forbidding stock buybacks in a bailout bill.
Trump said he was “never happy” with stock buybacks, but that it was difficult to prevent companies from doing them. “It’s very hard to tell them not to, but I would tell them not to, I would say I don’t like it,” he said.
The comments come as the White House and Congress are hammering out the details of a stimulus package expected to top $1 trillion in spending.
U.S. airlines, which are at the epicenter …continued .
[Source: CNBC News]