Subject: OCC: OCC-2011-14, FRS: Docket No. R-1432 and RIN 7100 AD82, FDIC: RIN 3064-AD85

February 8, 2012

I write support a strong "Volcker Rule" that will prevent banking institutions from gambling with other people's money and assets, including the mortgages on our homes. Right now, I do not know who owns my mortgage. I do not know whether the bank that I've been paying for years will release the mortgage when I've paid it off, or whether it will provide the note, marked Paid. Do I have clear title? Who knows?
This is the seventh home that I've owned. Never before did I need to worry about this. And it's all due to the big banks' gambling habit, and to their MERS and criminal robo-signing forgeries.
Paul Volcker is right. If you do not stop this now, there'll be a next time. The mechanisms may be different. But the behavior will be essentially the same.
Our schools, our libraries, our health care facilities, our police and fire departments, our public parks, our infrastructure: all have been damaged severely by what the banks have done. Americans must never undergo this again.

Americans need you to write a final rule that accomplishes the fundamental goals of the law: to

The rule must NOT be undermined by exemptions or exceptions. The Dodd Frank Act instructs you to make sure that the activities in which big banks are permitted to engage do not create the risk of another financial crisis.
Accomplishing this requires changes to current business practices on Wall Street. I urge you to resist the siren songs of financial industry lobbyists interested in protecting a status quo that has benefited them, while devastating the 99%.
It is also essential that banks breaking the rules face real penalties for violations. Violations of the "Volcker Rule" will endanger the stability of our financial system. They should not be treated lightly.
Any criminal violations must be prosecuted.
I have prosecuted savings and loan fraud committed in the Northern District of Texas. If President Bush hadn't taken 500 FBI agents off financial fraud and put them on terrorism, I almost certainly would not be writing this comment. The effect, however, was to unleash on the American public a financial terrorism that has ruined, and is still ruining, the lives of families and retirees nationwide.

Sarah McKee