July 30, 2008
I strongly appose Sec 151A. I have studies all the material presented by the securities industry. The securities industry deals with RISK products.
Over the past 15 years I have had scores of clients that were invested in the market, that have lost thousands and thousand of dollars, some even their live savings at the turn of the century when the market corrected.
However, I have not had one client who has lost one penny of their life saving in Fixed (FIXED) Indexed Annuity. FIXED INDEXED ANNUITIES are safe (SAFE) money vehicles just like CDs.
How anybody can assume that a GUARANTEED FIXED (OR INDEXED)ANNUITY is a security is beyond my comprehension.
I strongly urge the decision maker on this project not to classify a Guaranteed fixed indexed annuity as a security.
-Dan Campana