Subject: Comments for File Number S7-12-11

May 26, 2011

I’m writing because my family and I were affected by the economic collapse of 2008, and we don’t want it to happen again.

Wall Street greed and outrageous pay practices were a major cause of the collapse. One way to change the incentives so they don’t collapse our economy again would be to delay the bonuses for three, five or more years. That way, we’ll know if the loans they made in year one remain good. In the bad days, bankers paid themselves on the volume of loans (mortgages) they generated, not on their quality.

PERSONAL COMMENT: Sirs, Regulators exist to SERVE We The People, and to REGULATE those financial institutions that got us into this current financial disaster. It's time to close your ears to corporate interests and open them to the people.

Thank you for considering my comment,

Betty Schier

North Bend, OR