Subject: File No. S7-14-08
From: Bartley K Walters

July 10, 2008

I find the this Proposal to be harmful to the people you are trying to protect. The Equity Index Annuity has saved so many people from the current market down turn. My client are so pleased to learn that they all their funds even with stock market taking a dive. The Equity Index Annuity is a safe product to be used with other financial tools. Annuities have been successful regulated by the states for years without need of a federal supervision.
I feel the SEC and any other regulators of stock and bonds need take a look closer at the representatives selling security products. It breaks my heart when I see seniors with 80% of their life savings in stocks and their broker recommends they leave their portfolio at such high risk. Seniors are now being force to sales stock at a lower value from their IRA because so much is in their funds are in the stock market. At the end of the years our senior citizens will be taking their RMDs and most like selling much more stocks to meet the the RMD requirements. I found seniors who having their rep churning stock and bonds sales to increase their own commisions.
I have used the equity index annuities to reduce my clients risk while giving an opportunity to make higher returns.

Please understand the current media coverage that brought so much attention to euity index annuity is about sweep week not seniors, insurance, SEC or public safety. If the media would look at the stock brokers they would find an equal number of bad brokers. In society you will find equal number of bad individuals in all professions. Our current regulators bodies can and will found the problem in their profession.
I and the most of insurance agent will not recommend and annuity unless the agent feel certain it inproves the client's postion.
MY CLIENTS ARE PLEASE WITH THE PRODUCTS I HAVE PLACE THEIR FUNDS IN AND THE SAFE RETURNS.
MY PLAN IS TO DO WHAT IS NECESSARY TO CONTINUE HAVING MY CLIENT TO FIND A SAFE PLACE FOR THEIR SAVING.