Subject: File No. S7-39-04
From: Raymond H Gambel
Affiliation: retired

February 16, 2005

I agree with the Bond Assoc and others who believe that the comment period should be extended. I believe that, in view of the complexity of the proposal and the potential impact of its ramifications, the parties should give more time and consideration to the proposal.

Of course, I understand the impatience of the Commission and its staff to bring to a rapid conclusion this matter so they can return to video games and other enterprises that must entertain them. I think such talent shouldnt be wasted, but I appear to be in the distinct minority in view of what other enforcement agencies have accomplished with less budget and a broader mandate.

Moreover, I believe that most proposals such as this one have been through the back channels of the major players and that the release is merely pro forma without function.It is, however, my hope that the Commission in if not a sincere effort, at least a feigned effort at openness at this time would be a refreshing change.