Comment Text:
My wife and I lost between 10 and 15% of our 503C annuities that we are planning to use for our retirement. It was not a large amount to start out with. Now it is that much smaller. and we consider ourselves lucky. Many people we know clain there lisses were closer to 30% or even more. We have removed the remainder of the amount from any Wall Street traders clutches and they are now in money market IRAs. I never intend to "invest " in the Wall St casino again and will advise anyone who asks me to do likewise. If a company had sent hired guns to drive thousands out of their homes, someone would go to jail, even a fall guy. After the dust has cleared from 2008, there are only a couple of fall guys that were simple crooks like Bernie Madoff that got thrown to the wolves. Please close all the loopholes and return us to a Glass-Steagal Act era where banks had two clear paths, acting like a normal bank or being a risky investor. But please keep them separated. And close the loopholes in the proposed rules so that these institutions are held accountable to their promises.
