From: Michael Tucker
Sent: August 10, 2006
Subject: File No. S7-03-04

SEC Chairman Christopher Cox

Dear SEC Chairman Cox,

Mutual funds are an increasingly important savings vehicle for tens of millions of working Americans. As owners of these funds we bear the disatrous relults when insiders allow self-interest and greed to overcome their fudiciary responsibilities.
I look to the Securities and Exchange Commission (SEC) to protect me from these people - like the current crop of war profeteers who have made a fortune of the death of now over 2,900 American soldiers.
And so I am writing to express my strong support for the proposed rule requiring that mutual fund boards have an independent chairperson and at least 75 percent independent directors. These rules were among the most important reforms adopted by the SEC in the wake of the mutual fund trading and sales abuse scandals.

The "Rubber Stamp" policies which generate excessive management pay through bonuses whose taxes many times can be sidestepped via Cayment Island false fronts, must end. Ninety percent of institutional investors think the current system overpays executives. We need independent directors to stand up to the excesses of these greed based Bush Regime encouraged money managers.

The Investment Company Act requires that mutual funds be managed in the interests of their shareholders. Requiring independent directors and chairpersons will help ensure this safeguard for the small investor, to make sure the little person gets a fair shake.


Michael Tucker