August 28, 2008
TO THE SEC:
THE CHANGES SUGGESTED BY THE SEC ARE CAPRICIOUS. THE FIXED ANNUITY MARKET IS BETTER REPRESENTED BY THE INSURANCE AGENTS WHO HAVE BEEN SERVING IT WELL, ADDING THE COST OF BROKERAGE FEE FOR INDEXED ANNUITIES IS ANOTHER WAY OF TRANSFERRING INCOME POSSIBILIITIES TO BROKER AND REGISTERED REPRESENTNATIVES IN LIEU OF THE AGENTS CURRENTLY HOLDING THIS RESPONSIBILITY, AS A FORMER REGISTERED REPRESENTATIVE FOR MANY YEARS, I SEE NO BEEN FIT TO THE CONSUMER A DIS SERVICE TO THE AGENT AND A RESPONSIBILITY TO BROKERS AND RIA'S THAT IS FABRICATED AND GENERATED BY JOE BORG AND ELLIOT SPITZER, WE ALL KNOW ABOUT ELLIOT SPITZER'S ETHICS AND MORALS. JOE BORG WANTS A LAW LIKE HE HAS IN ALABAMA THAT ANY AGENTR MOVING MONEY INTO ANY ANNUITY FROM ANY SOURCE WILL BE GUILTY OF A FELONY. I HEARD HIM SAY THIS IN MAY OF 2007.
THIS IS A WITCH HUNT AND A TRAVESTY, WE AGENTS HAVE BEEN DOING AN OUTSTANDING JOB WITH ANNUITIES AND DO COVET THE VARIABLE ANNUITY MARKET.
WE WANT TO SELL FIXED ANNUITIES TO BENEFIT OUR CLIENTS, LET THE JOB CONTINUE TO BE DONE BY AGENTS, DON'T FIX WHAT ISN'T BROKEN, THE CONSUMER LOSES WHEN THE GREED OF THE STOCK MARKET LIMITS THEIR CHOICES.
RESPECTFULLY SUBMITTED,
ROGER D. GOSSAGE