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. It is clear that lack of regulation allowed people to act recklessly in order to line their own pockets without regard for the consequences others face. I don't want my children to be in their 50's, facing the prospect of never retiring because all of their retirement savings has been lost due to the actions of others.

Wall Street greed and outrageous pay practices were a major cause of the collapse. One way to change the incentives so they donít collapse our economy again would be to delay the bonuses for three, five or more years. That way, weíll know if the loans they made in year one remain good. In the bad days, bankers paid themselves on the volume of loans (mortgages) they generated, not on their quality.

Thank you for considering my comment, Denise Peick

Denise Peick