An article in the Financial Times last Monday quoted Anne Hochstein, President Biden’s international energy envoy, as saying:
“I think that the idea that financiers would tell companies in the United States not to increase production and to buy back shares and to increase dividends when profits are at all-time highs is outrageous. It is not only un-American, it is so unfair to the American public.
You want to pay dividends, pay dividends. You want to pay shareholders, pay shareholders. You want to get bonuses, do that, too. You could do all that and still invest more. We are asking you to increase production and seize the moment. …
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