Subject: File No. S7-14-08
From: Leon W Fainstadt, Mr
Affiliation: Agent

October 29, 2008

Dear Mr. Christopher Cox,

The SEC needs to spend more time regulating the banks and
the industry that works directly with the stock market.
Our current national financial crisis is due, in part,
because the stock market products were not regulated
and the banks and brokers are in each others pocket.

The Fixed Annuity markets do not lose money for their
clients. Index Annuities serve the educator markets well
and in fact created a product in which the risk is all on
the seller of these products. Please do not let yourself
be swayed by the lobbyists for the stock market sellers.
The stock market is in a shameful mess and none of it is
due to the insurance companies that sold index products.
I think the brokerage houses are upset and have put
major pressure on the SEC to put a stop to the index sales.

Don't make another big mistake. Stop this action. I am
forwarding a copy of this letter to my congressman Mr.
Henry Waxman.

Please think hard on this matter. Brokerage houses have created a huge mess and are trying to deter an excellent
market and a whole bunch of happy consumers.

Sincerely,
Leon Fainstadt