October 14, 2008
Sirs:
Over the past 30 days it has become self evident that the SEC and other governmental entities monitoring the stock market have been unable to monitor or regulate the very programs they are supposed to supervise.
Annuities are self explanatory and when applied with the proper guidance, transparent and easy to understand.
While the products that are derivatives and mirror images of stock market trickery prevail, clients I assist are unable to understand their investments, cannot read their statements, are told to stay in the market by brokers for the long haul, no matter their age. That's like telling a patient that has a headache to take 2 aspirin and the cancer patient to take the same medication. Why not stop the use of this statement that is at the center of playing with the minds and hearts of their life long savings
The brokers that promote this activity should themselves be taken to task and forced to stop fleecing the seniors I help on a daily basis.
And the more people I see, I can clearly paint a picture of seniors running out of cash.
No Sirs: Fixed Annuities are doing just fine, thank you.
Leave them alone
Tell the SEC to do the job they are supposed to do, which as of this date, they have failed miserably