September 2, 2008
Dear Sirs:
I strongly disagree with the proposed rule for many reasons. The investing public is already confused beyond repair. As a Senior Vive President for two major wall street firms over many years, my main task was education of the public. If this proposed rule is approved the investing public will have no alternative way to channel assets via an objective opinion of insurance agents. The investment business community does not understand this investment and doesnt want to. The goal of this rule has nothing to do with the investing public and their needs but everything to do with the investment firms and their objective control it all and collect all fees possible.
Please reconsider any notion of passing this rule. Let it be dormant for a period- five years- so a more educated decision can be made.
Gregory E Peterson