Subject: File No. S7-15-10
From: Stanley Kuzak

February 25, 2012

Why has the 12b1 Fraud/Scam been allowed to flourish for so long allowing Funds to bribe Mgt Firms and Advisers to push their funds in effect picking the pockets of their clients without their knowledge. As such clients can't even use the bogus "fee" as a Misc deduction on their taxes because clients aren't given a statement or 1099 reflecting the "fee" that is hidden and thus stolen from clients. Yep, stolen That's because the clients are already paying sales fee's, Mgt fee's, and load fee's. The 12b1 "fee" gives the client absolutely NOTHING in return so the money in effect is stolen.
And as such why doesn't the useless SEC get after the Funds and the Mgt Firms for fraud, HUH ???
And also, where the hell is fiduciary responsibility ?
Basically it's nothing more than a useless meaningless word that the SEC kicks around to make it appear it's actually doing something.
If there is one Federal Agency that needs abolished it's the useless SEC that's only function is to protect scum bags.
I feel it all comes down to the fact that the Federal Gov. is making $$$ Billions, or maybe even Trillions, of dollars off the 12b1 Scam in the form of taxes so in effect it's nothing more than a co-conspirator along with the SEC to run interference for them and acts like Sgt Schultz on Hogans Hero's, "I see nutting".
I have convinced all three of my kids to not start any retirement plan unless it's free and rather invest in real estate and antique cars because IRA's and 401K are all a part of the scam.
I'm screwed at my age because I took a bite of the apple but hopefully I saved my three kids.
It's really sad how bad this country sucks anymore.
Everything is a scam or crooked and upside down backwards.