Subject: Comments for File Number S7-12-11

May 20, 2011

My family and many of our friends were seriously affected by the economic collapse of 2008, and we certainly want to prevent its happening again.

Wall Street's insatiable greed and obscene pay scales were a major cause of the collapse. One way to change the incentives so they don’t cause our economy to decline still further would be to delay the executive bonuses for three, five or more years. That way, we’ll know if the loans they made in year one remain viable. In the bad days, bankers paid themselves on the volume of loans (mortgages) they generated, not on their quality. We cannot continue on this path, if our country is to remain a leader in the free world.

Thank you for considering my comment,

Judy F. Brouillette