| Comment Number: | 522418-00540 |
| Received: | 6/2/2006 2:15:29 PM |
| Organization: | foremost llc |
| Commenter: | jana mccarty |
| State: | FL |
| Subject: | Business Opportunity Rule |
| Title: | Notice of Proposed Rulemaking |
| CFR Citation: | 16 CFR Part 437 |
| No Attachments |
Comments:
Hello, I am writing this letter because I am strongly against Business Opportunity Rule R511993 . People need to use their own due diligence to make sure they don't get scammed on the net. This is supposed to be a free country. If you don't stop trying to save everyone from themselves, there will only be a few big companies left in the world and they will commit fraud and deceipt to you and everyone else. The very thought of governmental interference in the free enterprise process strikes fear in the hearts of Americans everywhere. Cherished values are a stake, and the FTC needs to be aware of the dangers of ill considered action. The public is not well served by the FTC's overregulation of an industry that is causing absolutely no harm and more than adequately polices itself by remedying any and all complaints by members of the public. Most business opportunities comply with all applicable buy back requirements and always makes it easy for individuals to exit the Company, if the business opportunity is not right for them. You are going to undermine the very basis of free enterprise in america. While the FTC needs to protect the public where necessary, this proposed rule is hopelessly overbroad and misguided. The seven-day waiting period is unnecessary and will interfere with my ability to enter into lawful transactions. People buy TV's, cars, and other much more costly items without such a waiting period. This proposed waiting period gives the impression that something is wrong up front. . And, the burdensome paperwork, which will not even be read by the public, makes it extremely difficult for the individual participant to fully comply, thereby risking fines and other penalties for such failures, however innocent. By these actions, the FTC does a disservice to the consuming public and Americans everywhere who are trying to get ahead by starting their own business, or earning necessary supplemental income to help support their family. While I appreciate the work of the FTC in protecting consumers, I believe this proposed new rule has many unintended consequences that could be scrapped completely. Thank you for your time in considering my comments. Sincerely yours, Jana McCarty