When I wrote in 2025 that state guaranty associations were a flimsy substitute for real insurance of annuity promises, the industry could dismiss the concern as theoretical.     https://commonsense401kproject.com/2025/06/24/state-guarantee-associations-behind-annuities-are-a-joke/ It isn’t theoretical anymore. The Federal Reserve, Treasury, IMF, Bank for International Settlements and even state insurance regulators are now wrestling with a life-insurance industry that has … Continue reading State Guaranty Associations Behind Annuities Are Still a Joke—And Private Equity Has Made the Joke More Dangerous