Subject: File No. S7-35-11
From: Roger Aulabaugh, n/a

September 2, 2011


I find it amazing that in these days of triple leveraged ETF's that are basically shortcuts around margin rules as well as your inaction regarding high-frequency trading and the uptick rule, you are focusing on REITS. As a retiree I depend heavily on the income from these vehicles and the leverage they use provides much needed liquidity to the markets they serve.

Nonetheless although you ignored Madoff and mortgage bundling when it could have counted, you are now forcing the prices of these equities lower with these "inquiries".

Numerous small investors such as myself have appealed to you in the past to at least put some sort of leash on short-sellers and out of control ETF's but the days when the SEC cared about the public interest seem long gone. As for my comment re: REITS, please just leave what's working, alone. Thank you for your consideration of these remarks, Mike Aulabaugh