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. In fact, this economic collapse has affected all families in this country and many others.

We are angry that Wall Street seems to think things are going OK, while many many people are still unemployed. The huge compensation packages for executives who were responsible for the problem are really disgusting many of us whose livelihoods have been destroyed by these greedy people


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.

Thank you for considering my comment,

Toddy Perryman