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.

Wall Street greed and outrageous pay practices were a major cause of the collapse. One way to change the incentives so they donít collapse our economy again would be to delay the bonuses for three, five or more years. That way, weíll 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.

Today, as a single mother and member of the working poor, I can not find a decent paying, full-time job. I piece together employment working for 3-4 small businesses in any given month. There used to be many full-time jobs in the rural area where I live. People are afraid to spend money because they don't know where the economy is headed. The bankers did this. They should not be rewarded while the ordinary, rural American fights to pay the bills. The banks made this mess and have not yet been held accountable for it. Please ensure that any bonus is based on an ethically and financially sound basis.

Thank you for considering my comment,

Cat Ransom

Cottonwood, AZ