Subject: File No. S7-35-11
From: Isidore Tepler
Affiliation: none

September 26, 2011

My family has benefited from 14% yearly dividends from NLY, not understanding why more people did not invest in this leveraged bond bet that had , for unclear reasons, had tax advantaged status. We also did not understand why every finanacial firm would not do this themselves. It always seemed like getting Madoff-like returns was to good to be true.

With the SEC announcement of August 30, 2011, we have pulled all of our money out waiting for this decision.

If the SEC allows NLY to continue its current status, we will immediately pile millions of dollars back into this stock.

It is the only way we, as honest hard -working non-financial types, have been able to to take advantage of "the system", as insiders have done leading up to the 2008 crash.

We know that there will be a lot of lobbying effort by powerful and rich to keep the status quo. Good luck with your decision