Subject: File No. S7-34-11
From: William Wilkinson

September 7, 2011


This is to urge you not to change the regulations governing reits such as Annaly Capital Management, Hateras Financial Corp. and American Capital Agency. That is not to regulate them as investment companies subject to the investment act of 1940.

As a senior citizen, I am fearful - as many others must be - that it will increase the cost of doing business for such companies and consequently diminish the return on equity. As you must understand, this is vitally important to the retired population which can no longer count on the Social Securities increase which used to enable us to at least try to keep up with expenses.

William Wilkinson