Subject: File No. S7-14-08
From: Donald S. Loveless
Affiliation: Independent Investors, Inc.

November 13, 2008

I am an Investment Advisor with 26 years in business and I support the proposed rule that would allow for SEC oversight of Equity Indexed Annuity sales.

I've seen and discussed the EIA products with many consumers and agents selling them. It is clear to me there is very little likeliehood that the agents themselves even understand the product, much less the consuming public. The one thing the agents do understand is the 8-12% commissions.

For the protection of the investing public I support the proposed rule allowing for SEC oversight of the Equity Indexed Annuity products just like Variable Annuities are.

Regards,
Donald S. Loveless CFA CFP

Independent Investors, Inc.
Registered Investment Advisor