October 14, 2008
AS AN INSURANCE AGENT AND AN INVESTMENT ADVISOR REPRESENTATIVE I OPPOSE RULE 151A. I THINK THE STATE INSURANCE DEPARTMENTS HAVE DONE AN ADEQUATE JOB IN THE PAST REGULATING INDEXED ANNUITIES AND WILL DO AN EVEN BETTER JOB IN THE FUTURE. IN LIGHT OF THE RECENT MARKET CONDITIONS, I THINK EVERYONE WILL HAVE TO AGREE THAT SINCE NO INDEXED ANNUTIY OWNERS LOST ANY PRINCIPAL VALUE FROM THEIR ACCOUNTS IT IS NOT A SECURITY. PEOPLE WHO HAD MONEY IN SECURITIES MOSTLY LOST MONEY RECENTLY. FIXED INEXED ANNUITY OWNERS DID NOT. THANKS FOR CONSIDERING MY VIEW ON THIS ISSUE.
JOHN AIKMAN