October 29, 2008
I understand the SEC as a purposeful organization regulating in effect, the potential lose of assests due to a variety of causes. The human element seems to need controls because all too often individuals have crossed the boundaires of being ethnical for self gain in one form or another.
The very fact that a Fixed annuity can never occur a loss means personal assests are never at risk. You know this already. Am I to presume the intentinon of the SEC therefore, is to protect personal assests not from loss, but from deceit? If that is the case, then why are EIA's being singled out? Why not change the rules for all Fixed annuities? Why not change the rules regarding a bank's offering of CD's? Why not change the rules regarding the selling of lIfe insurance, and car insurance, and health insurance? Deceit can certainly exist, and does exist, within each of these industires.
If the SEC is in the business of controling the way an investment grows, then surely you are investigating other forms of deceit and greed that is being experience on Wall Street? Is this true?