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Subject:  Re: Lifetime Annuity Date:  10/4/2013  9:25 AM
Author:  Hawkwin Number:  73411 of 88522

How many more guys are like that are out there? Zero? Two? A dozen?

A few at least - as the recent London Whale demonstrates.

Here's the crazy part: After all this, some people are willing to stake their retirements in poorly understood, complex financial instruments controlled by an international insurance company

Not so crazy when you consider that the annuity portion of their business was the most secure, is often backed by state guarantees, and was actually sold by AIG to Western National to help bail out the company - without a single policy default.

Now, none of that makes such a good investment, but it doesn't make it any less safe than investing it in the stock market.
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