Subject: Comments for File Number S7-12-11

May 19, 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.

We lost a substantial amount of our life savings in now worthless Lehman bonds. Why did Lehman get singled out to fail when all others got a government bailout?

Wall Street greed and outrageous pay practices were a major cause of the collapse. One way to change the incentives so that our economy doesn't get trashed again would be to delay bonuses for three or more years. That way, everyone will have more time to see if the loans that bankers make each year remain sound. Having bankers pay themselves on the volume of loans (mortgages) they generate, instead of on their quality seems to encourage poor decision making.

Thank you for considering my comment,

Eric Boyce