Subject: File Number 4-606

August 29, 2010

Sir, Madam, Ms,
I don't know how you might change your classification of brokers, dealers and advisers, which may be doing no more that re-arranging the deck chairs, but basically, I feel that the stock market has become a ponzi game run by the fund managers, using their clients' 401(k) contributions. While the client treats his 401(k) as a savings plan, the fund managers trade stocks amongst themselves with that never-ending source of funds, getting paid for every trade, and running the price of stocks far above the earnings value of the companies the stocks represent. The client has no idea what he is buying into, and the fund manager doesn't care-- so long as he continues to get paid his fat commission.
This bubble will burst.
Bill Markling
Fullerton, CA