Subject: File No. S7-14-08
From: Walter R Baker
Affiliation: LUTCF

October 17, 2008

To whom it may concern,
Today I am very troubled about your decision to make Fixed Index Annuities part of the SEC. If I am right the only reason you are considering this move is to protect the seniors of America because you have been told of some agents misuseing FIA's by putting older people in long term annuities. However, is it better to protect peoples money for retirement with out loss or let a broker put their money in Mutual Fund at risk of loosing their retirement. As far I know every major brokerage house in the US has been suied for misuseing people's funds. So the Insurance industry is no diffrent than any other industry.
A few bad apples put a bad rap on the rest of us. This would cause a hardship for me and my family. I am the only person working in my family because my wife is on disability. I have been in the insurance industry for 28 years and never had (1) one complaint. All my clients are very happy not to have lost money in the market this year and a lot of them have to use this asset to suppliment their SS. It took the market 7 years to come back from 2000 and only 6 months to loose all that gain. My clients are to old to waite another 7 years to get their money back.
Thank You for this extra time to let me tell you how I feel about this situation. W. R. Baker