Subject: Comments for File Number S7-12-11

May 24, 2011

I’m writing because my family and I were affected by the economic collapse of 2008, and we don’t 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 don’t collapse our economy again would be to delay the bonuses for three, five or more years. That way, we’ll 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.

I am a teacher. They always tell us, if you don't like the money you are making, get a different job. I think the maximum income in the United States should be equal to the highest paid teacher in each state or the country. And that corporate profits and capital gains tax should be at least 33%.

Thank you for considering my comment,

Hilary Nagrodski