Subject: File No. S7-14-08

September 10, 2008

I am writing to oppose the SEC's proposed new Rule 151A.

I am a consumer who was NOT PROTECTED by the securities industry in 2001 when my 401(k) - that was built by my hard work over 25 years in New York City - was decimated by the stock market.

As many others have said - "My 401(k) became a 201(k)" in 2001 thanks to the protection and oversight of the securities industry. I am obviously being sarcastic - something New Yorkers do when they have been ripped off. As a consumer, I am also tired of hearing the same old lie. "Just hold on - the market will come back".

I would like you to explain to the millions of consumers like me - whose retirement plans were ruined under the protection and oversight of the securities industry - the very industry, that did not protect us at all in 2001 - why they should be rewarded by being given broader responsibility - to have oversight over insurance products !!!

It is insulting and galling to the millions of hardworking consumers in this country that you would propose that such an irresponsible body - be given broader responsibility - when in fact - they should be given less responsiblity - given their track record re: oversight. (and I use the term "responsibility" lightly in this case).

I want to know who is going to protect consumers and retirees from the SEC and the stock market in the future? I await your answer to this critical question for millions of retirees and consumers who are trying to plan for a long and healthy retirement.

Maybe the insurance industry should have oversight over the SEC and the stock market. Then consumers would in fact be protected as they have been protected for over 100 years. They would have a safe retirement and they would be able to sleep at night vs being afraid that they will become homeless. Of course, all such homeless people in the future should take up residence on Wall Street right at the foot of the New York Stock Exchange !!

Did you happen to know that one of the greatest fears that professional women currently have is the fear that "They will become bag ladies" ? Even Katie Couric has been quoted as having that fear. Now we know why - because of the exemplary oversight by the SEC over our investments and retirement plans to date. Good job !!

Maybe we can have Michael Moore create a new movie which addresses this hot button issue and the title will be "Homeless on Wall Street".

Thank you

Louise Kinard Erdman
Proud owner of her "201(k)"