Subject: Comments for File Number S7-12-11

May 22, 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 retirement group lost hundreds of millions of $$$'s due to the greed of Wall Street, Congress passed the Dodd Frank act to reign in those excesses and as we speak they are spending Millions of $$$'s to destroy it, you MUST NOT let that happen.

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,

Dave Ladd