November 17, 2008
Dear Sirs and Madams,
As an adviser to over 300 retirees, I implore you to strike down this proposal. If these recent market downturns have shown us anything it is that seniors need financial products with the guarantees provided to them by insurance companies.
This measure will only continue to blur the line between safe products and those investments subject to market risks. I can say with pride that none of my fixed indexed annuity clients have lost a single penny despite the chaos on Wall Street. Keep these products in the hands of insurance agents and state regulators because it is in the public's best interest.
Regards,
Anthony R. Cloutier