Subject: File No. S7-35-11
From: Tony Filippello
Affiliation: Retired

September 3, 2011

I would like to urge the SEC to please leave well enough alone and not mess with the current status of the REITS.
As a retiree, I have seen interest rates drop to nothing, and the REITS in my portfolio have been able to provide me the income on which to live on.
Already, just the very mention of this investigation has caused my REIT stocks to lose considerable value. If the Commission decides to change the provisions of the rules for the REITS, share values will plummet further along with their dividends.
I am not an expert on the subject, but it doesn't take an economist to see how disastrous this will be to investors and retirees as myself.
In closing, I respectfully request that the SEC not make any changes to the existing regulations.

Thank you.