Subject: File No. 4-619
From: Rich Greenwald

August 14, 2012

Chairman Schapiro
U.S. Securities and Exchange Commission
100 F Street, NE
Washington, DC 20549-1090

Dear Chairman Schapiro:

Money markets are an integral piece for financial planning for individual and institutions.

Clearly there are times to be more fully or less fully invested. We need safe haven accounts in which Invest, in order to accommodate cash within a portfolio. For many years, money markets have successfully met these needs. Certainly commercial paper and the like have challenged the industry in the face of severe credit disruptions. But to eliminate the $1 NAV is not the answer. There must be sound tenets portfolio managers can use as best practice to ensure the credibility of the portfolio. Whether its minimum credit quality limits, duration requirements or liquidity requirements, the $1 money market must be preserved.

The real issues today surround the abnormal interest rate environment. If the decision makers of this country want to do something constructive, they should focus on fiscal policy that steers this country back onto a long term trajectory of fiscal health. Stop undermining the entrepreneurial juices by continuing with inject uncertainty in policies. Delivery a 10 year recovery plan that clarifies the tax regime, healthcare costs and bank requirements. Put lenders and borrowers in a position to plan for their future.

Allow the Fed to return monetary policy back to normal conditions. Stop punishing the savers. Lead with vision and a grand plan. Enfranchise ALL economic classes…everyone MUST have skin in the game.

Please do not pass legislation that muddies the money market waters adding yet another element of uncertainty.

Thank you



Rich Greenwald