Subject: File No. 4-589
From: Mike Frazer
Affiliation: McKinley Children's Center

August 4, 2009

I agree with the action you all are moving towards, it should be banned. I feel that derivatives as well as credit default swaps should be banned. I also believe that we should reinstitute all laws that were made after the depression and started slipping away in 1996. The idea of allowing savings and loan banks to do business bank is ridiculous. I banked with PFF for several years and had to get away from them because they got involved in areas they should not have. I was not allowed to bank with PFF until 1997 or 8 because they could not do regular banking. I moved my day to day account to them but had to move it. They should never have been allowed to do day to day business banking. Now a California bank that had been in business over 100 years is gone. We need to get back to basics. This idea of selling loans all over the place and not even knowing where mortgage documents are is ridiculous. The idea of building bonds with tiers that include sub-prime loans is also ridiculous. Ms. Schapiro and your entire organization has a difficult job. But, it is time to clean things up and do whatever it takes to get it done.

Mike Frazer
Chief Financial Officer
McKinley Children's Center
762 West Cypress St.
San Dimas, CA 91773
909-599-1227 ext. 2124
909-592-3841 (fax)