Subject: Comments for File Number S7-12-11

May 19, 2011

Iím writing because my family and I were affected by the economic collapse of 2008, and we donít want it to happen again.

"I believe that banking institutions are more dangerous to our liberties than standing armies. If the american people ever allow private banks to control the issue of their currency, first by inflation, then by deflation, the banks and corporations that will grow up around [the banks] will deprive the people of all property until their children wake-up homeless on the continent their fathers conquered. The issuing power should be taken from the banks and restored to the people, to whom it properly belongs." -Thomas Jefferson-

One way to change the incentives so Wall Street doesnít collapse our economy again would be for regulators to set up a way for shareholders to grab back ill-gotten gains.

"I am a most unhappy man. I have unwittingly ruined my country...the growth of the nation therefore and all our activities are in the hands of a few men. We have come to be one of the worst ruled, one of the most completely controlled and dominated governments in the civilized world..." -Woodrow Wilson- (After signing the Federal Reserve Act 1913)

If it turns out that the profits in a given year were built on shoddy practices that become clear in the out-years, those bonus payments should be forfeited.

Thank you for considering my comment,

Todd Johnston