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Leaving Las Vegas
Good morning! Last week, we read in the headlines that the recession is over. And I know we're all pretty excited about that news. What a huge relief!
Last summer, when I transitioned into the CEO role at New York Life, I had a fairly calm first month or two-and then BAM! The financial crisis was in full bloom. So, I'm pleased to know we can all soon return to business as usual.
OK-back to reality. The fact is, whether or not the recession is technically over, there is no question that millions of Americans are not in good shape today. More wealth has been destroyed in this recession than in any other economic event since the Great Depression.
So, this morning, I would like to talk to you about:
* How we can help restore Americans' personal financial security and their faith in financial services ... and
What the life insurance industry will need to do differently