Subject: Comments for File Number S7-12-11

May 23, 2011

After reading some books about the collapse it really does seem that the whole thing was intentional and came from within the walls of Wall St and the banking industry. Iím writing because my husband and I were deeply affected by the economic collapse of 2008, and we donít want it to happen again. We no longer put our hard earned money into the stock market each year so we can watch it disappear again. We are both too old to start over.
However, that not one single big player (and I don't count Madoff or Abramoff as the big fish here) has been arrested. If I were to be caught stealing a pack of chewing gum I would be looking at charges of theft but these guys steal millions, billions and get away stock free then throw that in our faces by bragging about huge bonuses in obsence amounts and when questioned about it think it's fair. REALLY? I feel like I live in the "Twilight Zone."
Please consider this: Americans are really sick of hearing about big bucks going to those who created this mess. How long do you think we are going to keep going along with tax breaks and big bonuses to those who already have it all and then some? I feel disaster coming from angry Americans.
One way to change the incentives so they donít collapse our economy again would be to delay the bonuses for several years, at least five or seven. 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, Kathie Lagerblad