Thursday, April 9, 2020

Big Four US Banks Total Stock Buybacks Were $222.1 Bil in the First Three Years of the Trump Administration (2017-2019), More Than Three Times the $70.8 Bil in the Last Three Years of the Obama Administratiion (2014-2016). Can You See Why the US Big Banks Love Both Donald Trump and Mitch McConnell So Much? The Severely-Damaged US Economy From the CoronaVirus Will Never Be Properly Repaired Until US Corp Stock Buybacks, Which Have Destroyed the Financial Solvency of Nearly All of the US Economy, Are Permanently Banned.

From SEC filings, the below table shows the annual stock buybacks of the Big Four US Big Banks ...... JPMorgan Chase, Bank of America, Wells Fargo and Citigroup .... for each of the annual years from 1996 to 2019.

 So Donald Trump and Mitch McConnell bail out the US Big Banks to the tune of more than $100 bil in their $2.2 Trillion CoronaVirus Stimulus.  

 And now they are attempting to bail out them and other US banks even more in their second round of small (?) business stimulus.

 The solution to the financial solvency of the many very-troubled US small businesses is not to just hand out $600 bil of loans to small business owners and let them decide how to use this money.  

 The proper solution is for the US Government to continue funding on a very timely basis the full pay and employee benefits of all employees of all US small businesses which are under severe financial pressure from the pandemic.  All of these employees should remain as employees of these small businesses, it's just that they are being paid by the US Government temporarily until the pandemic has substantially improved.  Thus these small businesses will be relieved of this substantial economic burden and be able to focus on properly recharging up their businesses once the pandemic has been substantially ameliorated. 
Annual Annual Annual Annual Annual
Stock Buybacks Stock Buybacks Stock Buybacks Stock Buybacks Stock Buybacks
Year JPMorgan Chase Bank of America Wells Fargo Citigroup All Four Big Banks
mils $ mils $ mils $ mils $ mils $
                   
2019                 24,001                 28,144                 24,533                 17,571                 94,249
2018                 19,983                 20,094                 20,633                 14,433                 75,143
2017                 15,410                 12,814                   9,908                 14,541                 52,673
2016                   9,082                   5,112                   8,116                   9,290                 31,600
2015                   5,616                   2,374                   8,697                   5,452                 22,139
2014                   4,760                   1,675                   9,414                   1,232                 17,081
2013                   4,789                   3,220                   5,356                      837                 14,202
2012                   1,653                        -                     3,918                          5                   5,576
2011                   8,863                        -                     2,416                          1                 11,280
2010                   2,999                        -                          91                          6                   3,096
2009                        -                          -                        220                          3                      223
2008                        -                          -                     1,623                          7                   1,630
2007                   8,178                   3,790                   7,418                      663                 20,049
2006                   3,938                 14,359                   1,965                   7,000                 27,262
2005                   3,412                   5,765                   3,159                 12,794                 25,130
2004                      738                   6,286                   2,188                      779                   9,991
2003                        -                     9,766                   1,482                   2,416                 13,664
2002                        -                     7,466                   2,033                   5,483                 14,982
2001                      871                   4,716                   1,760                   3,045                 10,392
2000                   2,950                   3,256                   3,238                   4,066                 13,510
1999                   6,493                   4,858                   2,141                   3,954                 17,446
1998                   1,846                   1,751                   1,170                   3,085                   7,852
1997
 N/A 
                   8,540                   2,171                   3,447                 14,158
1996
 N/A 
                   3,193                   2,513                   3,711                   9,417
1995
 N/A 
 N/A 
 N/A 
 N/A 
 N/A 
Totals               125,582               147,179               126,163               113,821               512,745
Trump First 3 Years                 59,394                 61,052                 55,074                 46,545               222,065
Obama Last 3 Years                 19,458                   9,161                 26,227                 15,974                 70,820
Obama All 8 Years                 37,762                 12,381                 38,228                 16,826               105,197

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