"The chief financial officers of two large states and two large cities on Wednesday issued an open letter in their role as pension fiduciaries criticizing the practice of share-buybacks by corporations and questioning whether companies 'are adequately reinvesting for sustainable returns over the long term.' The four financial officers -- from New York state, New York City, Chicago and California -- are fiduciaries to pension funds with $860 billion in assets, covering 4.3 million participants[.]"  MORE >>