Subject: File No. S7-34-11
From: richard a giguere, mr
Affiliation: none

September 29, 2011

Reits that acquire fannie mae, freddie mac, and gennie mae loans should be allowed to have higher debt to equity ratios in the 6 to 7 times range. These are all government gauranteed loans with virtually no risk to investors. They all seem to have stock prices relatively close to their present book values as well.
as long as they distribute 90% of these earnings to their shareholders, taxation should be minimal if any.
thanks you for allowing this input