Subject: Comments for File Number S7-12-11

May 23, 2011

Iím writing because my family and I were affected by the economic collapse of 2008, and we donít want it to happen again.

Wall Street is spending millions on lobbyists to thwart these essential regulations. You cannot listen to or be influenced by the lobbyists. They are controlling too much of what happens in our government and it is never in the interest of the general public--it is in the interest of the institutions that they are lobbying for--in this case Wall Street and the banking industry. I cannot afford to pay for another bail out. I can hardly bail myself out. These skyhigh payouts and bonuses must be stopped and the pay must be based on a more fair and controlled manner.

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,

Kay Beams