Subject: File No. S7-34-11
From: Allen West

September 14, 2011

Changing these regulations after 50 years is crazy. I would like Obama to bail me out since I invested BEFORE this proposed change and Obama deciding to kill stock prices.

If companies are profitable and are able to sustain some of the housing and real estate markets moving Federal notes, then why change if they are just making a percentage off the transactions?

A government bailout should be sent to every investor in REITs if they decide to change the rules.

The government also needs to think through shaking up the real estate industry. If they force REITs to reduce leverage, then WHO will absorb or be able to handle the addtional mortgages and products now forced on the market?

Is the government going to absorb these losses also? If investors are willing to take risk that are not FDIC insured, then let the markets provide these services. Otherwise, lets eliminate all markets and become socialist.

Granted we need regulations and accounting, but if something is working and profitable unlike junk mortgages that were sold to unqualified people due to the equal housing act, why change it?