August 25, 2008
Equity Indexed Annuities are not securities and should not come under the SEC for that reason. If they were securities there would be no company guarantee against losses. There would be no caps on gains. There would be direct participation in the markets like stocks, bonds, mutual funds and variable annuities. There would be no guarantees or minimums of interest rates. Securities have none of these attributes. If this is brought under SEC the next steps would be Certs. of Deposit, homes, commercial real estate, coins, metals, commodities directly purchased,food, gasolene,clothing and no end to it. Maybe we should also bring into this mess the military and everything governmnt related. This iis utter stupidity and an attempt to enlarge government at taxpayers' expense. We want less government, not more.