September 6, 2011
I am a nobody...an amateur...a non savvy citizen. No one with powe. but I voice an opinion which probably reverberates all across America...MIND YOU OWN BUSINESS. REITS are not a over leveraged or manipulated industry...leave them alone. The SEC has successfully missed every major potential problem and ponzi scheme in the past 20 years. You missed Madoff but caught Martha Stewart....Nice Job...You Missed the 30 to one leverage of all the derivatives that were embedded in the mortgage origination scam and acted like you you were clueless but no one in the SEC was fired. Half of the damn agency should have been You guys almost brought down the WORLD FINANCIAL MARKETS, not to mention the money tons of people regular guys lost because you were clueless. But you are bent on saving us from the REITS You were absent when our elected officials forced banks to issue sub prime mortgages to non-credit worthy people and allowed companies to issue paper on mortgages that had erroneous and financially inappropriate income to take out those loans...but you are going to save us from REITS. You were clueless to look into the bogus "Rating Agencies" who were in bed with Wall street...But you are going to save us from REITS Your agency has shown itself to be incompetent in judging what needs protection, where is it happening, when it is happening, or how it is happening. Do the country a real service...reduce the Debt. CLOSE THE AGENCY. LEAVE REITS ALONE