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.

Also, I would strongly urge that we, the tax payers, decisively forbid the federal government from giving away OUR dollars to anymore banks/financial institutions the next time they create such a distaster. And yes, with current behaviours such as they are, there will be a next time!

Thank you for considering my comment,

Bertram McGrath

Dover, NH