Subject: File No. S7-15-10
From: Bonnie Zeller

August 12, 2010


There are plenty of options for consumers to choose for themselves how to invest and pay for what they want. Low cost options include Vanguard, Fidelity, ETFs etc.

As long as costs are disclosed for all of these investments so the customer can decide if they want to do business, let them. Improve disclosures if you think people can't read a prospectus or Morningstar fact sheets. Consumers are used to comparing costs and making decisions, we aren't helpless.

Investors can take their business where they want to with the current competition and choices available. If you can make the disclosures and prospectus easier and better than do it.

Protect Investors by Limiting Fund Sales Charges, how about protecting taxpayers from all government employees who are getting paid more than similar private sector employees. Taxpayers can't take their taxes to a better more cost effective government, so why not start there first. there is no competition and our debts show it. How much was going to government in 1980 versus now?

Why should unions get more money than non unions then?

Where do you stop?

Make sure the costs are disclosed and let customers decide.