by John Darer® CLU ChFC MSSC RSP CLTC
Edward Stone, the attorney representing a number of ELNY shortfall victims in the appeal of the ELNY liquidation and co-counsel in the class action against New York Superintendent of Financial Services Benjamin M. Lawsky and others, tweeted:
"ELNY part deux? Difficult to recreate in today's environment" in a web chat on December 5, 2012. (emphasis added)
Attorney Stone also emphasizes in another tweet "Do your homework. Don't put all of your eggs in one basket. Diversify holdings across carriers. Be mindful of cap limits"
Edward Stone's tweets are particularly relevant since they come just 4 days after my December 1, 2012 post entitled "Executive Life Insurance Company of New York | Touching a Touchy Subject" with the same issue raised in my podcast from June 2012.
I will continue my commentary on this in a separate blog post.