Subject: File No. S7-14-08
From: Joel N. Greenberg
Affiliation: NALU, NAFA

August 9, 2008

Dear Chairman Cox,
What ever happened to free enterprise?? I believe one of the United States greatest attributes is our spirit of competition Isn't the spirit of competition, innovation, and entrepreneurship the engines that continue to drive our wonderful country?? Why then would the SEC try to throw a wrench in the wheels of progress? I hope it isn't about the "money". However, as millions of Americans move billions of dollars out of risk, and into safe harbors, what other reasons could there be?
Annuities have been around since the Roman Empire. Emperors offered lifetime security to their subjects in return for their cash. Fixed annuities are funding the retirement of many municipal retirees,federal retirees, schoolteachers,etc. The innovative idea from insurance companies who invented and marketed the Fixed Index Annuity is a brilliant example of FREE ENTERPRISE at its best
Regulation of the MARKETING of FIAs should continue to be the focus the the state regulators. Hands off please.