Subject: File No. S7-12-11
From: Bob Schilling

May 26, 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.  Those same bankers who were bailed out with my tax money have now given themselves huge BONUSES... larger even than before the crash.  This MUST stop.

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,

Bob Schilling

South Deerfield, MA