September 1, 2011
PLEASE LEAVE THE MORTGAGE REITS ALONE
I am retired and I have lived off the high dividends of the Mortgage REITS for a decade. Please don't tamper with these. Many M-Reits have survived and thrived through all types of markets for more than a decade: ANH, MFA, NLY. No government help or change is needed. In fact, they were all doing just fine until the SEC press release today.
Just the announcement of your investigation caused me substantial(5 figure) losses. My own government hurting me and so many other small investors. I just can't believe it. Now these stocks will live under a cloud until you cancel this witch hunt. Did you think about the consequences of your action? Who will repay my losses today caused by the SEC?
If the SEC wants to do something USEFUL you can re-instate the "Uptick Rule" that served the country so well for 70 years. Get the large manipulative shorts off the market's back. Also crack down on all the "Naked Short Selling". Just doing those two things would be a big help to the markets and the vast majority of American investors.
Thank You,
Thomas Cole