October 13, 2008
As a regular citizen who, like Mr. Bernanke, has most of my money in annuities, I can only point out that this year I lost NO MONEY in the stock market. And, one of my annuities is a fixed indexed annuity (with Genworth). I have watched dozens of people devasted by the stock market recently and am quite happy, having lost NO MONEY in a product you somehow thinks has risk
You should please let sleeping dogs lie and back off this whole proposal.
Proposed 151A will not do anything to protect me and would only decimate the insurance agent force that does a good job of marketing these SAFE products.