Bernie Sanders advocated heavily against share buybacks, calling for a regulation that would restrict them in the United States. Which of the following are most likely to be targeted for a share repurchase ban/restriction?

a.

Under levered (too little debt) firms, with many good investment opportunities.

b.

Over levered (too much debt) firms, with few good investment opportunities.

c.

Under levered (too little debt) firms, with few good investment opportunities.

d.

Over levered (too much debt) firms, with many good investment opportunities.