Subject: File No. S7-14-08
From: James A Wilson
Affiliation: Investor

October 14, 2008

Well it looks like the SEC would learn after all these years when you have something the works don't mess with it too much. Espically do not eliminate it. As long as we have Politicans and Busessines willing to spend millions to have laws passed that favor them the consumer get left out in the cold. As we have seen in the recent market nose dive in 2008 there must be regulations.

The States failed to make sure that Property Appraisers were not working in collusion with loan makers and over valuing home loans and now you have a mortage mess from the fraud when they packaged and sold those bad loans.

At the Federal Level this would mean making sure that the State Controler are actually doing their job. Getting someone friendly to one company of someone will to commit collusion and harm the consumer appointed to a state office would not be hard for those with deep pockets. So please keep the back up system of checks and balances to protect the consumers.

Do not count on the states to employ the best people for the job. Like you see in Alaska friends of the Governor can end up in jobs they have no qualifications for just because they know someone.
Thank you ,James Wilson