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Nader Deconstructs Apple

Summary:
Apple are going to buy back billion of its shares. Ralph Nader says they have so much money they don't know what to do when it. Under Steve Jobs Apple did but own one cent, but dunce he has gone they have borrowed .5 billion. Nader says why didn't they pay fair share of taxes, or pay its workers a decent wage, or invest in its company, or spend some money ensuring that discarded i Phones don't harm the environment?US companies have bought back trillion of stock over the years. The Republicans are saying socialism is destroying the country, but it isn't socialism, says Nader, it's crony capitalism that's doing it. [embedded content]

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Apple are going to buy back $1 billion of its shares. Ralph Nader says they have so much money they don't know what to do when it. Under Steve Jobs Apple did but own one cent, but dunce he has gone they have borrowed $1.5 billion. Nader says why didn't they pay fair share of taxes, or pay its workers a decent wage, or invest in its company, or spend some money ensuring that discarded i Phones don't harm the environment?

US companies have bought back $7 trillion of stock over the years. The Republicans are saying socialism is destroying the country, but it isn't socialism, says Nader, it's crony capitalism that's doing it.

Mike Norman
Mike Norman is an economist and veteran trader whose career has spanned over 30 years on Wall Street. He is a former member and trader on the CME, NYMEX, COMEX and NYFE and he managed money for one of the largest hedge funds and ran a prop trading desk for Credit Suisse.

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