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I believe buybacks are the next big scandal on Wall Street. The secret that no one talks about is that stock buybacks directly manipulate higher the executive bonuses. Not by a higher price, as they usually don’t even result in a higher price, but rather by artificially sharply increasing ROE (return on equity)? Go check [...]

3rd UPDATE: Three Banks Agree To Buy Back Billions Of ARS
Last Update: 8/21/2008 8:18:38 PM
(Updates with SEC comment on settlement with Merrill Lynch in the works in
paragraphs 13 and 14, Goldman Sachs statement in paragraph 17, and Bank of
America declining to comment in paragraph 23.)
By Chad Bray
Of DOW JONES [...]