Subject: File No. S7-12-11
From: Charlene Vanacker

May 29, 2011

I’m writing because my family and I were affected by the economic collapse of 2008, and we don’t want it to happen again.

One way to change the incentives so Wall Street doesn’t 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.

AnnualThe income over $200,000 should be taxed at a much higher rate.  It is outrageous how much these Wall Street traders receive. 

Thank you for considering my comment. 

Charlene Vanacker

East Lansing, MI