Opinion: U.S. Should Take Company Stakes and Ban Buybacks

“Trump Says U.S. Bailouts May Require Equity Stakes, Buyback Bans,” a Bloomberg headline screamed early Thursday afternoon.

The president had just finished a news conference in which he was asked point blank whether he supported the government getting equity stakes — and a ban on share buybacks — in return for giving taxpayers’ money to companies struggling with the economic downturn caused by the coronavirus.

“I do, I really do,” he replied to a question about equity stakes. “Conditions like that would be O.K. with me,” he said when asked whether he supported a buyback ban as well as a ...