Subject: File No. S7-12-11
From: Michael A. Schad

May 30, 2011


To whom it may concern,
I work at the City of Miami Beach Building Department where the construction industry is regulated by enforcing the state building code.  In this line of work it has become very clear to me that regulation is required to protect the innocent.  The regulations also make the industry function properly.  Without regulation people would be afraid to hire contractors and the business itself would become too corrupt to function.  Regulation provides a minimum standard that prevents unskilled labor and corrupt activity.  These concepts apply to any industry.  However, it appears that Wall Street has been deregulated by our politicians.  How could they do this?  Please correct this deficiency!  Perhaps hire experts from academia, remove all conflicts of interest, hire as many as required and pay enough to get the best in the field.  Keep the politicians out of it!  They are not specialists in the field and obviously are not acting in our best interest.
Michael A. Schad

Michael A Schad

Miami Beach, FL