Subject: File No. S7-25-06
From: Bruce H Wilson

January 26, 2007

The idea of discriminating again 99% of the American investing public is ridiculous. Where did you get the idea that a net worth of $2,500,000 makes you a smarter investor than the person worth $2,400,000? Or $1,400,000?

I am absolutely in agreement that all alternative investment programs should be regulated in regard to audits and financial reporting. However, to assume that investments in mutual funds of stocks are without risk is asinine. The wonderful SEC looks on from the sidelines when individuals purchase Enron or World Com, but says alternative investments should only be available to the super rich. Why don't you try to eliminate Blacks or Women or Gays from investing in alternative investments? The reason is very simple: you would be out of a job by sundown

It also is apparent that the enforcement of law breakers is for the most part a slap on the wrist. Merrill Lynch, Prudential, Bank of America, etc. get caught with their hand is the till and they pay a minimum fine and it's back to business as usual.

When Prudential pays a fine it's not coming out of the pockets of the people guilty of the crime. Oh no, the fine is coming out of the pockets of the stockholders or the policy holders What a sweet deal. Steal all you can and if you get caught use someone else's money to pay the fine and be assured there will be no jail time for anyone And you people wonder why the bad guys keep coming up with illegal schemes to screw the public.

It's about time that the punishment for lawbreakers is sure and swift. Cut out the crap of paying a fine and doing community service. Start treating white collar crime like you treat drug dealers: if you intentionally steal money or defraud your investors in any illegal way you are facing a minimum of 10 years in the slammer.

In summary, set strict guideline on who can open an alernative investment program and monitor their financial records on an ongoing basis. But let the public decide where they want to put their money without the artifical guidelines that eliminate 99% of the investing public based on criteria that allows only the super rich to avoid the "buy and hope" mentality that is so common in relative return programs.