Subject: File No. S7-07-12
From: Freda D Urling

September 24, 2012

Do not relax rules on hedge funds, which can be "managed" by completely irresponsible thieves and idiots. Hedge funds are such flimsy investment vehicles, they should not even be allowed to exist, in my opinion. The SEC should try to enact rules that will direcctly help the investor, who does not know what to ask, most of the time. Since the schools have failed to educate, a mandatory class for investors, with information on what a hedge fund actually is, what mutual funds cost, what interest costs, what stocks are, what dividends are, etc. is the best means to keep the victims from being victimized by the victimizers.