From: Dave Banks [j.banks@bresnan.net]
Sent: Thursday, March 04, 2004 6:15 AM
To: rule-comments@sec.gov
Subject: S7-11-04: 

  Let's see now, when I buy a house or other real estate, I have three days to 
change my mind before the contract is binding. If I take my future retirement 
money and buy a mutual fund and change my mind you want to charge me two percent 
on top of any other fees the fund imposes. Oh, and by the way - you don't require 
them to reveal their holdings in a timely manner so I really don't even know what 
in the hell I am buying! This is an idea that only a crook could come up with - or 
a government bureaucrat who wishes to pander to the industry so they may garner 
favor.
 Meanwhile, most funds are turning over their portfolio at a 100-300% rate per 
year. Don't you think this costs the individual shareholder? 
  There are other ways to address this problem -and you damn well know it. I could 
say a lot more but I must head to work now and really don't have time to educate a 
jackass.Let's just say I'm against this proposal - and now I need to write my 
congressman to make sure he knows it.
 
                                                                                                                                
Very Sincerely,
                                                                                                                               
John D. Banks
                                                                                                                             
Gillette, Wyoming