Subject: File No. S7-35-11
From: Russ Colby

September 1, 2011

First Obama takes my GM bonds and makes them worthless. Then the Canadian gov't taxes Royalty Trusts as corporations and cuts their value by 50%, and now you want to tax the mReits causing double taxation. I USED to be a Democrat but the Administration is really screwing us retirees who need to live on dividends and interest. Somehow this will give more money to the people who made bad deals on their homes. Take from the middle class and give to the lower middle class and poor. That's what this amounts to.
Also I fail to see how the SEC can force a company to not use leverage. That's none of their business if it is disclosed. That's something the investor needs to be concerned with, not the SEC