August 26, 2008
It appears that only those who are unable to separate fact from fiction would think of turning a fixed guaranteed annuity into a security. Or, perhaps those who saw dollar signs appearing before their very eyes. The courts, insurance commissioners, and the public know that an EIA is NOT a security. The SEC must be deaf, dumb, and blind, or incredibly biased, and unaware of what is real in this world except as it affects the bank accounts of those BD's. THe SEC should be ashamed of itself.