Subject: File No. S7-12-11
From: Steve Seuser

May 26, 2011

I’m writing so many people I know have been radically affected by the economic collapse of 2008.  I am personally unemployed at the moment, due in part to the economic collapse.  Many other people I know personally are in much worse predicaments than I am, so I am writing to you on all our behalf.

We need new systems to govern corporate pay in the U.S.  Our country is unique in the outrageous differential between executive pay and the pay of other employees of the company, not to mention average Americans.  The financial industry is one of the greatest abusers of corporate pay.  We need to establish realistic systems of rewarding employees, and for holding them accountable for their actions.  I urge you to consider strong action to limit incentives to executives that are distorting and destroying our entire economic system.  We need systems that will retract bonuses paid as a result of poor business practices, with no statute of limitation.

Thank you for considering my comment,

Steve Seuser

Washington, DC