Subject: File No. S7-15-10
From: David Babs

July 22, 2010

I do not believe that the Govt., including the SEC needs to be constantly regulating everything under the sun. How is anyone to make money in this country when the Govt. keeps taking everything away from everyone. We are not talking 'Wall Street' here, we are talking everyday advisers that might rely on residual income to service accounts. Yet you let Bernie Madoff go for years and years, ripping Millions and Millions of people off, your organization is a hypocritical at best. You Don't go after the real crooks go after little non-sense stuff that's easy and makes you sound and look good. What happened when Madoff was reported numerous times to your organization?? What happened was Your organization had it's wallet open, that's what. Give me a break.