Subject: File No. S7-35-11
From: Philip K Van Deusen
Affiliation: Finacial Analyst

October 5, 2011

To whom it may concern,

My name is Philip Van Deusen I am a analyst at a small boutique brokerage firm. I have been active in the markets for nearly a decade now and been witness to the booms and busts of the dot com era, accounting scandals with regard to the Enron, and Worldcom and now fraudulent Chinese firms. I have gone through the insider trading scandals of the hedge funds, the seemingly fraudulent MBS activity with regard to CDOs at the investment banks and their partners at the rating agencies.

Through this time I have avoided taking undue risk and advised others to do the same. I have helped many friends, family and co-workers avoid the pitfalls of a treacherous equity market. And I have primarily done this by recommending investing in shares of Annaly Capital Management. Their management team have demonstrated an even and steady approach at managing these markets while providing many investors with income and capital returns in the most difficult market environment in 70 years.

It would be devastating to me, my family, closest friends, and many thousands of investors who have made the right investment decisions, if mortgage REITs like Annaly were negatively impacted by new regulations. The team at Annaly are the most thoughtful, prudent and shareholder friendly management team I have ever had the pleasure of coming across and have helped to improve the lives of countless Americans. Taking away a legitimate tool for helping people to generate income and returns at such a critical moment in our countries history is unfathomable and I truly hope that no such actions are taken by the SEC.

Sincerely,

Philip Van Deusen