Subject: File No. S7-12-11
From: Debbi Atkinson

May 31, 2011

Elizabeth Murphy
100 F Street, NE
Washington, DC 20549

Dear Murphy,

America paid a terrible economic price because of irresponsible risk-taking by Wall Street executives. Those executives took those risks because they knew that they could walk away with billions of dollars in bonuses and stock options and never pay for the long-term consequences of their actions. We need tough rules so that Wall Street pay packages don't encourage short-term risk taking.

Your rules should require at least a five year deferral period for executive bonuses at big banks, ban executive hedging of their pay packages, and require specific details from banks on precisely how they ensure that executives will share in the long-run risks created by their decisions. It should apply to the full range of important financial institutions, and draw in all the key executives at those companies.

Once this rule is passed, only you will know the details of its enforcement. But it's important for the public to know the progress you are making on this vital issue. You should report back to the public annually with a detailed report on progress in creating accountability for Wall Street pay.

I have just completed reading now my fifth book on the financial meltdown (13 Bankers) and the Frontline Special entitled: The Warning.
My concern is not with the meltdown we just experienced but the far greater one on the horizon. Why have we still failed to learn the lesson of the LTCM meltdown? These people clearly cannot be trusted to police themselves as they have proved time and time again. How much money do these people really need? What is are country going to look like after the next collapse? And what, if anything, are you the people that stand between eminent disaster going to do to prevent it? Next collapse will not be swept under the rug. Your actions now -or lack of -will impact generations to come.

Referencing Docket No.'s:

OTS:   RIN 155-AC49
OCC:  RIN 1557-AD39
Fed:    RIN 7100-AD69
SEC:   RIN 3235-AL06
FHFA: RIN 2590-AA42
FDIC:  RIN 3064-AD56

Sincerely,

Mrs. Debbi Atkinson