Subject: Comments for File Number S7-12-11

May 19, 2011

When did America start rewarding incompetence? Why have these individuals and corporations not been prosecuted, or at a minimum fired from their positions or forced into bankruptcy? It's no wonder our empire is decline. The government and corporations have co-opted our democracy and are destroying our once great nation. Wall St and government are an absolute embarrassment. They are either spineless or corrupt, or some combination thereof.

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.

Thank you for considering my comment,

Thomas Reeck