Check Out The Outrageous Flame War Between Mutual Fund Managers And Investors On The SEC Website



One part of the SEC’s comment section has become a battleground for mutual fund managers and their investors.The section is a call for comments on one of the SEC’s proposed legislations, new caps on mutual fund 12b-1 fees, which are annual fees charged to investors on the amount they have invested in a mutual fund. The proposal also suggests enhanced disclosure requirements.

The mutual fund industry on whole seems to hate the proposal. And angry investors (along with completely unrelated people who just hate the greedy financial industry) are fighting back.

Hundred of commentators have written in. Everyone has something to say about it. The comments section has even been spammed (we think).

So as part of our ongoing coverage of the epic Battle Over Mutual Fund Fees, we’ve picked out the most hilarious moments.

Keep the fees!

'my clients love me...If 12b1 fees go away, these clients will be fired'

'What do you think all of us do all day? NOTHING ???????????????'

-Jack Oujo

To hell with the fees!

'It won't be long till the greedy hands digging in our pockets will find only lint'

- Dean Curtis

Keep the fees!

'Do you think clients don't know advisors are paid? Will banks have to tell account holders how much they profited from their savings deposits and loans over the percentage? Where does it stop? Should we know how much the gas station owner is making on each gallon?'

- Rick Stateis

Yeah, keep the fees!

To hell with the fees!

'As Upton Sinclair said, 'It is difficult to get a man to understand something, when his salary depends upon his not understanding it.''

- Marie Dunn

We need the fees!

Get rid of the fees!

'Bravo Commissioners I not only like this proposal, but I love it'

- Rusty Aborne, Esq

We deserve the fees!

'To me, it is an honorable profession.'

-Mr. Jim DeGaetano

Charging these fees is wrong!

Keep the fees!

Screw the fees!

'This is a sham...'

- Jack Thomas

We need the fees!

'You are so wrong...'

- Gary Frank

To hell with the fees!

'I am appalled by the number of so-called professional financial advisor commenters who cannot even correctly spell words in their one or two sentence submissions. The gist of their collective concern is that they won't be paid indefinitely for their advice if 12b-1 fees are replaced. Hallelujah. It's about time they left the gravy train.'

- Stewart A. Levin

Keep the fees! (And get spellcheck.)

'Get spell check on here so you can better read my thoughts and not focus on my limited keyboard skills.'

- Daniel R. Purcell, Jr.

Get rid of the fees!

'I feel like I have been screwed royally by most of the 'manipulators.' I believe that the individual has been, is now, and will always be at the mercy of the 'manipulators' ... Big business get all the breaks. Where's our break? I forgot, when we're broke we might get to get free soup.'

- Doug Hall

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