Subject: Comments for File Number S7-12-11

May 26, 2011

Iím writing because millions of Americans were affected by the economic collapse of 2008, and we donít want it to happen again.

One way to change the incentives so Wall Street doesnít collapse our economy again would be for regulators to set up a way for shareholders to grab back ill-gotten gains. Stockholders should demand greater public accountability in the actions of corporate executives.

If it turns out that the profits in a given year were built on shoddy practices that become clear in the out-years, those bonus payments should be forfeited. I think some sort of ratio between the profitability of the corporation and the bonuses for executives should be mandated. There should not be any automatic raises in poor economic times and high unemployment.

Thank you for considering my comment,

William P. Ostrander, Jr.

Bellingham, WA