From: A J WILSON [wilsonajw@prodigy.net]
Sent: Saturday, June 07, 2003 5:38 PM
To: rule-comments@sec.gov
Subject: File No S7-12-03: Concept Release, Credit Raters

The present SEC oversight has failed miserably in protecting investors.
 Unbiased, objective ratings can be expected only from credit-rating
firms that have no business connection directly or indirectly thru sale
of product or service.  This sad condition is so blatantly obvious,
that it is hard not to conclude that the SEC is biased as well.