SPEAKER INDEX    Segment 1 of 2    Next Segment (2)
CONTENTS   INSERTS   
BAKER            1      3      4      7      9     10     13     14     15  
                16     22     28     31     32     33     39     44     54  
                56     59     61     62     66     70     73     75     77  
                78     79     81     85     86     90     91     96    100  
               104    105    107  
BIGGERT         54     56  
BULLARD         70     78     79     93     98    105  
CAPITO          61     62  
CASTLE          11     47     48     49     50     81     82     83     84  
                85     86  
CUTLER          17     35     36     39     40     42     43     45     46  
                47     48     51     52     56     58     60  
EMANUEL         13     44     45     46     47     79     80  
FRANK            3      4     33     34     35     36     96     97     98  
                99    100  
HAAGA           73     76     77     78     83     84     86     92    101  
               102    103    104    105    106  
HINOJOSA        15  
LEVITT          62     78     80     82     83     84     85     87     88  
                89     90     91     96     97     98     99    100    102  
               103  
LUCAS OF KENTUCKY    15  
MANZULLO        59     61  
MATHESON        57     58  
OXLEY            7      8     39     40     41     42     43     44     91  
                92     93     94     95     96  
PHILLIPS        66     83     94     95  
ROYCE           14     73    100    101    102    103    104  
ROYE            43     46     51     52     53     55     56     60  
SCOTT           10     50     51     52     53     54     86     87     88  
                90     91    105    106  
SPITZER         22     29     31     32     34     38     39     40     41  
                44     46     47     49     50     53     57     59     60  
                61  

CONTENTS    SPEAKERS   INSERTS   
STATEMENT OF STEPHEN M. CUTLER, DIRECTOR, DIVISION OF ENFORCEMENT, SECURITIES AND EXCHANGE 
COMMISSION; ACCOMPANIED BY PAUL F. ROYE, INVESTMENT MANAGEMENT DIRECTOR, SECURITIES AND EXCHANGE 
COMMISSION
                                                                 PAGE    17

STATEMENT OF THE HONORABLE ELIOT SPITZER, ATTORNEY GENERAL, STATE OF NEW YORK
                                                                 PAGE    22

STATEMENT OF THE HONORABLE ARTHUR LEVITT, FORMER CHAIRMAN, SECURITIES AND EXCHANGE COMMISSION
                                                                 PAGE    62

STATEMENT OF DON PHILLIPS, MANAGING DIRECTOR, MORNINGSTAR, INC.
                                                                 PAGE    66

STATEMENT OF MERCER E. BULLARD, FOUNDER AND PRESIDENT, FUND DEMOCRACY, INC.
                                                                 PAGE    70

STATEMENT OF PAUL HAAGA, JR., CHAIRMAN, INVESTMENT COMPANY INSTITUTE
                                                                 PAGE    73


INSERTS    SPEAKERS   CONTENTS   
NO INSERTS IN THIS HEARING