Ann: NAB to buy back up to $2.5B of ordinary shares on-market, page-19

Mate, that makes as much sense as your first post.
I didn't offer any opinion on the economic forecast for Aus from here. (The opinion I offered was that a share buy back was better long term that a special dividend)
It is simply a fact that management need to make decisions on capital from time to time and they obviously believe we are still well provisioned for B&DDs.
Your comment that it was somehow robbery from retail holders is simply ludicrous.
Completely up to you if you hold for the long term or buy and sell over shorter periods. Just like the instos who will make that decision as they always do on what is best for their profitability etc. There are many, many retail holders and suggesting they all act in the same way is ridiculous.
The benefit of an on market buy back is it does not preference anyone in particular and remaining holders get the benefit of a reduced share register.
Little doubt instos will often make more money than retail holders because they have larger holdings, nothing new in that
Suggesting that they pay a $2 Div seems to fly in the face of your earlier comment that implies you do not believe NAB should not be reducing their capital yet!?!?
Stating instos are getting $10 per share because of the buy back is simply rubbish, they will get whatever return they get when they sell those shares at whatever the market price is, no doubt some have already been turned over!!
Anyway, obviously you have rather different ideas on capital management and how the markets work. If you really believe what you have written, good luck to you....................