From: Martin Cardwell [martycardwell@sbcglobal.net]
Sent: Monday, March 15, 2004 10:09 PM
To: rule-comments@sec.gov
Subject: S7-11-04: 

"Should the rule permit, rather than require, funds to charge 
a two percent redemption fee on the redemption of all securities 
held five days or less? If so, would funds have enough information 
to assess those fees on accounts held through financial intermediaries 
such as broker-dealers and banks?"


America is the Land of The Free.  Funds should be as autonomous as the
system of Capitolism will allow.  Some funds are designed to be attractive to 
the short-term investor, and further prohibitive policies will cause those 
funds to lose their appeal, forcing those investors to abandon the funds, and 
possibly the stock market, entirely.
After the way SOME investors were raped by the Nasdac Bubble... 
by following the riduculous "Long-Term" (lemming-suicide) approach touted by 
the very people trying to establish this Rule, the SEC should be grateful 
that SOME investors are willing to put forth the time and risk to regain some 
of what they lost, by spending all of their
evening free time staring at a monitor for years on end, and not having 
pulled their money out a long time ago.
 
Like their wives wanted them to.
 

"Should the de minimis threshold be higher (e.g., $5,000 or $10,000) 
or lower (e.g., $2,000 or $1,000)?"

Fascinating...  you telling us that we have to LOSE money in order to avoid 
the fee?
That's what a $2500 deminimis says to me, when applied to the minimum initial 
investment already in place... & THEN I can't put that money anywhere new, 
because of the SAME initial restriction!

Sounds like a greedy fat-cat talking.  Another reason to take my losses 
and run... just accept what the public is afraid of, that the system is 
designed by the rich, to take from the poor. That's EXACTLY what I see when I 
look at this Rule.
 
The funds SOME investors are in, have already established fees which were 
acceptable to the fund management a long time ago, even
BEFORE outsourcing.  
 
Just what IS going to happen to THOSE fees, anyway? I ran out of patience a 
LOOONG time before I saw a paragraph about THAT!
 
I think the government should leave well enough alone.