September 2, 2011
I would like to protest the SEC's decision to review the rules surrounding real estate mortgage trusts. MREITS should be allowed to operate with the rules that have been in existence for over ten years. You should understand that there are thousands of senior investors who rely on income from these investments. Executing a rule change at this point would effectively pull the rug out from under us leading to the destruction of our livelihood.
In addition, I would like to ask why the SEC would look to make changes in a relatively innocuous area of the financial market when there are much more fertile areas, namely high frequency trading and the discontinuation of the uptick trading rule.
I would like to stress that there are hundreds of thousands of people like me that question whether the leadership that you are providing is really the right thing for our country. I hope that you make the decision to move on to other more fruitful areas that can help to protect investors.