Subject: File No. S7-25-06
From: William B Hobbs

January 30, 2007

Investment opportunity discrimination based on gender, race or sexual preference, is illegal. Current law discriminates based on wealth and should also be illegal.

All investors should have equal, access or opportunity to invest as they see fit.

I have invested in private equity offerings where I filled out a questionaire to determine my financial knowledge. In the interest of protecting investors, this sort of test is reasonable. If you must discriminate, please do so ONLY based on ability to understand the risks of investing.

Other forms of discrimination are wrong and should be against the law.