Exhibit 12.1

RATIO OF EARNINGS TO FIXED CHARGES AND PREFERRED SHARE DIVIDENDS

Our ratio of earnings to fixed charges and preferred share dividends for the periods indicated are set forth below. For purposes of calculating the ratios set forth below, earnings represent net income from continuing operations from our consolidated statements of operations, as adjusted for fixed charges; and fixed charges represent interest expense and preferred share dividends from our consolidated statements of operations.

The following table presents our ratio of earnings to fixed charges and preferred share dividends for the five years ended December 31, 2009 (dollars in thousands):

	For the Years Ended December 31
	2009			2008			2007			2006		2005
Net income (loss) from continuing operations	$	(440,141	)	$	(617,130	)	$	(435,991	)	$	74,704	$	75,074
Add back fixed charges:
Interest expense		260,080			489,989			700,460			63,410		13,011
Earnings before fixed charges and preferred share dividends		(180,061	)		(127,141	)		264,469			138,114		88,085
Fixed charges and preferred share dividends:
Interest expense		260,080			489,989			700,460			63,410		13,011
Preferred share dividends		13,641			13,641			11,817			10,079		10,076
Total fixed charges and preferred share dividends	$	273,722		$	503,630		$	712,277		$	73,489	$	23,087
Ratio of earnings to fixed charges		—	(1)		—	(1)		—	(1)		2.2x		6.8x
Ratio of earnings to fixed charges and preferred share dividends		—	(2)		—	(2)		—	(2)		1.9x		3.8x

(1) The dollar amount of the deficiency for the years ended December 31, 2009, 2008 and 2007 is $440.1 million, $617.1 million and $436.0 million, respectively.

(2) The dollar amount of the deficiency for the years ended December 31, 2009, 2008 and 2007 is $453.8 million, $630.8 million and $447.8 million, respectively.