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. My husband lost his job due to the financial collapse. I was pregnant with my second child and had to return to work prematurely in order for our family to have a steady paycheck and to continue to receive benefits. It is disheartening to see the same people who destroyed our economy reaping in large bonuses and yet the average person is still struggling. . I have watched my friends who have masters degrees apply for food stamps

As a teacher, it is terrible to now be blamed for collapsing the economy. I chose a profession that would enable me to reach out to children and to educate them. I wanted to excite the next generation to seek out knowledge and to understand the world around them. I understood from the start that I would never make a great deal of money but I would have benefits and job security. I have a degree from an Ivy League school. I have the potential to earn a great deal more money instead I chose a profession that I love. However, since politicians place me as the blame instead of the Wall Street Banksters, it up to you to ensure that this type of collapse never happens again. The American people bailed out Wall Street and the Banks yet the average person continues to suffer. You must ensure that legislation that has been created is followed and people are protected. Morality and accountability, not greed and deceptive practices, must become the norm. 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. 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,

Jean-Marie Woods-Ray