Subject: Comments for File Number S7-12-11

May 27, 2011

Iím writing because my family and I 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.

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 truly feel that in this economic climate those who chose to gamble and lost should be held as responsible for shouldering the rebuilding as everyone else, and not be collecting outrageous bonuses until all debts have been settled.

Thank you for considering my comment,

Ken Filiano

brooklyn, NY