Subject: File No. S7-18-11
From: Gary D Cristofani
Affiliation: banker

July 28, 2011

In addition to future action, why is the SEC not taking punitive action against Moody's and SP for their worthless credit ratings of mortgage and asset backed securities before 2008?
They took fees for this so-called work.
They misled the public and businesses who invested in this junk.
They returned no fees or admitted to any errors.

And now they are holding our Federal credit ratings hostage by daring to down-grade their ratings. Who cares what they rate? They have proved to be worthless and untrustworthy.

They should be fined, forced to return fees, and to admit they did not do the job they were paid to do. We are notifying our congressional representative to take these actions