Subject: File No. S7-04-11
From: G H
Affiliation: Financial Advisor

January 26, 2011

I strongly recommend that you do not exclude one's primary residence in the calculation of his/her net worth. The entire idea that one needs to have a large amount of liquid assets (or any assets) in order to understand a financial transaction is absurd. It is entirely possible and probable that non-wealthy individuals have the mental capacity to understand a security product presented to them. Excluding potential investors from certain capital markets and opportunities on the basis of personal net worth, rather than financial acumen, is capricious, unjustifiable and unconscionable.