From: Gong, Ben [Ben.Gong@CO.RAMSEY.MN.US] Sent: Wednesday, June 11, 2003 5:14 PM To: 'rule-comments@sec.gov' Subject: Rules and Rules (s7-10-03) Everything single public traded company needs government oversight. Otherwise there will be other Enrons, WorldComs, Global Crossings, etc, etc. As one of the senators said a while ago that the BOARD is the co-conspirator instead of a check on the management team. Most of the board members are highly paid officers of other companies that require their own BOARD members to approve their unjustified compensations (thus the vicious cycles). How can such a BOARD work for the benefits of the shareholders? IT WILL NEVER UNLESS CONGRESS establishes such laws that ban one public traded company's highly paid officer to serve on the BOARD of another company. Alas, when shall we have such laws? I don't believe our elected public officials work for the shareholders and regular people any more. They all work for the rich and powerful. They only "work" for the common people when they need their votes at election time. Once election is over and they are in office, they cooperate with the LOBBYISTS of every sort to fight against the interests of the common people. There is too much difference between what such public officials do and what a communist dictator does. They only difference is our public officials are doing so under the great flag of DEMOCRACY whereas the dictator tells his or her people that HE or SHE is the WAY. Best regards from Ben Gong (Gong Benxiang) Pager: (651) 847-0013; Phone: (651) 266-3471, (651) 266-8318