Subject: End Wall Street's Game of 'Heads I Win, Tails You Lose' s7-12-11

May 27, 2011

Elizabeth Murphy
100 F Street, NE
Washington, DC 20549

Dear Murphy,

America paid a terrible economic price because of irresponsible risk-taking by Wall Street executives. Across the nation, thousands of families have lost their futures: Homes, college funds and retirement accounts vanished in the gambling spree ran up by the big banks and investment houses. Individuals had huge gains when their bets paid off, but more often it was the Average Joe left holding an empty bag. Those executives took those risks because they knew that they could walk away with billions of dollars in bonuses and stock options and never pay for the long-term consequences of their actions. We need tough rules so that Wall Street pay packages don't encourage short-term risk taking.

Your rules should require at least a five year deferral period for executive bonuses at big banks, ban executive hedging of their pay packages, and require specific details from banks on precisely how they ensure that executives will share in the long-run risks created by their decisions. It should apply to the full range of important financial institutions, and draw in all the key executives at those companies.

Once this rule is passed, only you will know the details of its enforcement. But it's important for the public to know the progress you are making on this vital issue. You should report back to the public annually with a detailed report on progress in creating accountability for Wall Street pay.

As long as the financial powerhouses can continue to function unfettered, they will continue to take risks that destabilize our financial markets. The Financial Leaders have demonstrated a blatant disregard for the well being of our nation investment arenas in their mad grab for personal wealth. Investments are battered by news reports of owners ill health; stocks fall because of pending litigation or prices are forced up because of possible future demand.all events of interest but should not been powerful enough to affect our 's nation's fiscal stability. It has been repeatedly demonstrated by the moneyed power players that they do not have the foresight or restraint needed to plan for a secured and stable future. We need to replace the safeguards put in place after the financial markets collapsed in the 1920-30s. There is a need for clear boundaries in the investment world; no business should ever be too big to fail.

Please have the courage and integrity to address these matters, acting in good faith with the citizens of our nation.

Referencing Docket No.'s:

OTS: RIN 155-AC49
OCC: RIN 1557-AD39
Fed: RIN 7100-AD69
SEC: RIN 3235-AL06
FHFA: RIN 2590-AA42
FDIC: RIN 3064-AD56


Mrs. Julia A Fontaine