Annuity Swap

Dear Senator / MP

What was Mary Shapiro FINRA run the ship? Today, the Wall Street Journal front page article on this story. But after reviewing this, I do not think the change will be in the cards for the investing public.

Over the past ten years, where does all the evil in the world of finance come from? Was it the main street where it was Wall Street? (Enron electricity manipulators are now the oil market manipulators. Supply and demand do not drive oil up $ 25 in one day!) Did the scandals come from regional or community banks, credit unions , independent brokers or independent companies planning? No, he had big Wall Street firms with their non-transparent, unregulated credit default swaps and other schemes indecipherable. He was assisted by the abolition of welfare policies as the "uptick rule". Thus, speculators can short shares of companies in the ground in just a few days.

Con-man offense, Bernard Madoff ran a brokerage firm that was under the supervision of FINRA and an insider, once the head of the NYSE. The SEC has certainly knew about it in 1998, but closed his eyes. He could have stopped, then 1 billion, but could develop into a plan of 50 billion Ponzi. Please stop the appointment of gangsters as police and stop allowing them to regulate their own criminal activity.

Perhaps regulators should eat their own cooking. If the higher ranks of the SEC and FINRA have been sold equity-indexed annuities, life insurance, retirement savings products promoted, annuity surrender periods of 16 years, tax shelters deemed abusive, complex mortgage securities that they could not understand or stockbroker, but recommends private trash, maybe they would change their tune.

I see, the appointment of Mary Shapiro, the continued support of the system that got us into the economic situation we have today and the erosion of consumer protection.

Do your work, Senator New! Begin to protect the little man on the main street, the majority of your constituency! Fix It!


I must cite the Jeff Bogue, Jeff is an independent cards, fee-only financial with his firm, Bogue Asset Management, LLC, a reference to my letter. I sent to my senator and congressman. Please write something for them. Let them know how you feel. Mine Copy / paste if you agree and are busy to write your own.

I do not know how to write something with the dynamics that you just expressed so I'll copy and paste and add a comment on my part to support your voice.

I wrote Senator Kay Bailey Hutchinson of Texas. I expressed my views on it. She sent me a very nice form letter back thanking me for saying exactly the opposite of what I said.