When a company announces its intention to deploy capital and repurchase its own shares, the market's reaction is often a positive one. That should not always be the case.

In this segment of The Motley Fool's everything-financials show Where the Money Is, banking analysts Matt Koppenheffer and David Hanson look back at a few share-buyback programs that crushed stockholders. 

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David Hanson has no position in any stocks mentioned. Matt Koppenheffer owns shares of Bank of America. The Motley Fool recommends Bank of America and owns shares of Bank of America and Citigroup. Try any of our Foolish newsletter services free for 30 days. We Fools don't all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.