JP Morgan filed to launch new Capital Shares classes for JP Morgan US Treasury Plus Money Market Fund and JP Morgan Federal Money Market Fund. The filing says, "JPMorgan U.S. Treasury Plus Money Market Fund, Capital.... The Fund seeks current income with liquidity and stability of principal. Purchase minimums For Capital Shares. To establish an account: $50,000,000.... Certain institutional investors may meet the minimum through the total amount of Capital Shares of the Fund for all such institutional investors with the financial intermediary." Note: JPMorgan already has "Capital" classes for all of its other Taxable portfolios -- JPMorgan 100% US Trs MM, JPMorgan Liquid Assets, JPMorgan Prime MM, and JPMorgan US Govt MM. In other news, Consumer Advocate Ralph Nader wrote, "An Open Letter To Chairwoman Yellen From the Savers of America." He says, "We are a group of humble savers in traditional bank savings and money market accounts who are frustrated because, like millions of other Americans over the past six years, we are getting near zero interest. We want to know why the Federal Reserve, funded and heavily run by the banks, is keeping interest rates so low that we receive virtually no income for our hard-earned savings while the Fed lets the big banks borrow money for virtually no interest. It doesn't seem fair to put the burden of your Federal Reserve's monetary policies on the backs of those Americans who are the least positioned to demand fair play.... But we never hear any mention of us -- the savers of trillions of dollars who have been forced to make do with having the banks and mutual funds essentially provide a lock-box for our money while they use it to make a profit for their firms and, in the case of the giant banks and large mutual funds, pay their executives exorbitant salaries." Yellen responded in a Nov. 23 letter, "My colleagues and I are very well aware that many savers are frustrated by the very low returns their savings earn -- and that this has caused hardship for some of them, particularly seniors on fixed incomes. These low returns, to be sure, are partly a reflection of the Federal Reserve's monetary policy. But, more fundamentally, the low returns are caused by the continuing aftermath of the financial crisis and the severe recession that followed it."

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