August 14, 2012
U.S. Securities and Exchange Commission
100 F Street, NE
Washington, DC 20549-1090
Dear Chairman Schapiro:
The SEC (along with FINRA) is reaching new lows. Rather than deal with the real issues that brought our financial system to collapse and actually regulate in a meaningful way, they have decided to run non meningful reforms and jump into businesses that did not cause problems. This money market fund issue is a red herring intended to make overpaid regulators look like they are doing something while working hard to avoid dealing with the Madoffs, too big to fail institutions, and all the other issues that were ignored.
Money Markets & Broker Dealers did not cause the last meltdown and they will not cause the next one. Leave this alone and try to regulate the things that need regulation. Like investment banks and ponzi schemes.