Subject: File No. S7-12-09
From: Lisa Rice

September 3, 2009

I am a citizen concerned about the excessive pay of the executives of financial institutions. Banks and other financial institutions acted with reckless disregard for their customers, the general economy, our great nation and their companies in their unbridled thirst for short-term profits. Yet they have reaped huge monetary benefit. Their pay is not in line with their performance.

I am very concerned about financial excutives manipulating the books to make it appear that their companies are in better shape than they really are. I am also concerned that any financial institution would pay huge bonuses and commissions to traders who participate in speculative activities.

There is not enough oversight in this industry and American citizens need "Say on Pay" standards that really create transparency and provide investors with a meaningful say in how executives get paid.

As a person who has been invested in mutual funds for over 20 years, I am astonished to see the value of my investments decreasing and dissapating precipitously while, simultaneously, the executives of many companies where I have stock ( through my mutual fund investments ) are fattening their pockets.

The SEC has not done a good job in reining in the excesses of executives in the financial sector and needs to stop letting American taxpayers down.