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 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.

The those companies that were too big to fail should have failed and the government should have taken control and made every effort to pay back everyone that lost their homes and mortgages due to the crisis.

Those people never got a bailout because of Wall Street's practices.

Thank you for considering my comment,

Bruce Davis