Subject: Comments for File Number S7-12-11

May 19, 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.

One way to change the incentives so Wall Street doesn’t collapse our economy again would be for regulators to set up a way for shareholders to grab back ill-gotten gains.

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. I have several close friends who lost or about to loose their house. Many more have lost their jobs. Luckily I have a stable job and can help some of my friends. The most absurd thing is that I cannot get a loan to refinance my house. With very stable job, highly paid and excellent credit. The banks are holding the whole economy hostage. Thank you for considering my comment,

israel perla