From: Don []
Sent: Thursday, February 12, 2004 11:17 AM
Subject: Recent Proposals

Dear Sirs;

In the Baltimore Sunpaper of February 12, 2004, Mr. Andrew Countryman of the Chicago Tribune wrote a summary article of the SEC's proposals to help investors. This e-mail contains my comments on those proposals.

The proposal to prohibit mutual fund firms from steering trades to brokerages as compensation is just what we small and long-term investors need (when part of the other proposals) to save our investments from hidden costs and illegal and unethical actions between fund salespeople, brokers, and the actual stock handlers. The other SEC proposals mentioned in the article are, we firmly believe, are exactly what we need to inform and to protect us. But, they are only a start in a long process to reform the whole investment business so, let's start now!

My family, friends, and I have been baffled for years by the published accounts of fraud and chicanery by fund managers and workers and outright thievery. We thought that the SEC (although criminally underfunded and staffed) was always on the job to protect us. We realize that, in this capitalist country, the buyer must beware but this assumes the buyer has all the facts and truth to make a useful decision. We believe that we do not. We are also writing our Congress to make the same complaint.

Hopefully, you and Congress can make things better- regardless of political party.

We look for your implementation and enforcement of these new proposals.

Sincerely yours,

Donald C. Friedmann
8819 Groffs Mill Road
Owings Mills MD 21117