August 4, 2008
Re: Proposal for the U.S. Securities and Exchange Commission to begin regulating the sales of fixed equity indexed annuities.
As an insurance professional having been in this business for 27 years, my observation would be that this job would be better left to the States. We as an industry have done a decent job of taking care of our own business for 100 years or so. If one remembers the depression when folks were jumping off buildings on Wall Street, who still had money to put this country back on it's feet... yep you guessed it, the Insurance Industry. Instead why don't you folks figure out something really important, like how to control the price of oil.... or better yet explain to your customers how they can pay their bills with dividends from their depleted portfolios.