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. 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.

Wall Street executives don't see, not do they care about us. We are invisible to them. WSE's move around in their ivory towers and care only about their own unsatiable greed. As far as they are concerned, we working people don't exist. They expect to be totally free from any kind of oversight or regulation. They expect to be free to gamble away and do unmeasurable harm to the US economy. They are oblivious to the suffering they have caused to huge numbers of American workers and American families. WSE's are so far removed from the ordinary lives of American families that they are oblivious to our pain. WSE's think we don't have a right to have satisfying lives. WSE's could care less about the struggle to survive because we cannot find jobs. WSE's could care less that we may become ill, and even die, because we cannot get health care. WSE's don't give a darn about people who lose their homes and then have to go into homeless shelters. WSE's have caused unbelievable suffering, but they are free to turn a cold shoulder to all of this information. We are invisible to them.

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. Emma Holbus