Subject: File No. S7-26-10
From: Gerard P Michaud

December 17, 2010

Is it wise for investors, and those who seek to protect them, to place into the hands of those who almost destroyed them, namely Frank and Dodd, the making of rules to oversee the market for asset backed securities? Was it not those two who assured us right up until the gory end that Fannie Mae and Freddie Mac were doing just fine? Now we let them write the rules?? Can the SEC do anything about this? You're record in the Madoff affair would argue otherwise, but possibly you could avoid another calamity by advising the powers that be against the adoption of any regulations proposed by Mssrs Frank and Dodd.