Subject: File No. S7-14-08
From: John Glebe

August 15, 2008

I believe indexed annuities are securities.

They do not even keep up for inflation without market gains. Without market gains and because of inflation, they are a sinking ship, and that denotes risk.

The products are also marketed as securities as they are touted for their market participation.

I would like to comment on the Comment Period.

I believe the comment period should not be extended. If the SEC sees or suspects ongoing fraud or abuse in the securities market, they immediately seek an injunction or a cease-and-desist order. Here, FIAs are cited as a source of abuse. Why should the SEC treat FIAs any differently. If abuse is a concern to the Commission, they should nip it in the bud when the see it. Allowing an extension is tantamount to saying, we realize this is your last chance to rob the elderly, so we'll give you a little more time.