September 3, 2011
I wish to express my support in favor of all Real Estate Investment Trusts (MREITS), I oppose any legal reform or changes to its current tax status. These REITS provide liquidity in the financial markets and they use investor capital to invest in mortgage backed securities. The mortgage backed securities bear interest which is accrued and the REITS pay back their investors with the net proceeds. Many people that I know, including myself, we invest in these REITS which provide us with a steady flow of income and financial security. The job of the SEC is to protect investors, not to bankrupt them by abolishing or interfering with their source of income. I appreciate your hard work and dedication to our nation's financial interests. But removing the current tax status of Real Estate Investment Trusts or tampering with it...is not in the best interest of our nation, financial markets, citizens, and us the average investors. Thanks for reading my comments and I hope that you understand where I'm coming from, I trust that you will do what is best for our country. Thanks.
Mr. William McDonnell, CPA