Subject: File No. S7-14-08
From: Stephen King

October 22, 2008

Nothing I have read has linked the current severe financial crisis to Fixed Indexed Annuities. In fact, they are performing precisely as they were designed to perform. None of my clients who own these products has lost one cent as a result of the stock market meltdown. Additionally, these products are currently regulated by each of the fifty states.

On the other hand, numerous risky investment vehicles (such as Credit Default Swaps) are totally UNREGULATED and have been the root and cause of this international disaster.

I believe that for the foreseeable future the SEC should divert its attention, resources and manpower towards regulating those insidious and totally unregulated investment vehicles that have been proven to have caused the current world situation, rather than diverting it's resources towards regulating and controlling relative harmless products such as Fixed Indexed Annuities.