Subject: Comments for File Number S7-12-11

May 19, 2011

Wall Street crashed our economy, and the government rewarded them with a hefty bailout. Now they are paying themselves large bonuses with our money, while engaging in the exact same practices that destroyed our economy.

Wall Street greed and outrageous pay practices were a major cause of the collapse. One way to change the incentives so they don’t collapse our economy again would be to delay the bonuses for three, five or more years. That way, we’ll know if the loans they made in year one remain good. In the bad days, bankers paid themselves on the volume of loans (mortgages) they generated, not on their quality.

Thank you for considering my comment,

Henry Reid