From: Mark Beaudin
Sent: May 24, 2006
Subject: File No. S7-03-04

SEC Chairman Christopher Cox

Dear SEC Chairman Cox,

I urge the SEC to require an independent chairperson on mutual fund boards. How can I invest with any hope of gaining from those investments if the earnings go in large measure to the top execs? Why don't we start outsourcing some of these top jobs? I am sure that there are excellent managers in other countries that would work as hard and with as much ability, without the prospect of robbing the shareholders!.


Mark Beaudin