Subject: File No. S7-06-04
From: Doug Rice

March 15, 2004

YES They should have to explain every last detail. And not is some footnotes somewhere lost in the back of a prospectus. Every possible bias, loophole and dime has to be accounted for and explained in a way that in understandable to the little old widow investor that they could easily prey on. The public is NOT knowledgeable and the mutual fund industry is taking advantage. You HAVE got to stop it. PLEASE make them disclose everything The more the better.