Subject: File No. S7-35-11
From: Peter V Baranko
Affiliation: investor in REIT's

September 24, 2011

The investment market is buying mortgage backed investments to support the mortgage market, which is full of mortgages that are under water. This high risk requires a high rate of return for investors including me.
For the risk we require a high rate of return of 13 to 20%. Should you implement the investment rule then the investment market including me will pull out of the stocks investing in mortgages and the result will be a large increase in mortgage costs to the consummer. President Obama does not want that to happen.