Subject: File No. S7-12-11
From: Maxwell Stinchcombe

May 26, 2011

I do not want the collapse of 2008 to be repeated.  Bankers systematically ignored risk caused by fraud that so many were part of.  A method to claw back ill-gotten gains is the least bit of discipline on the system that can be imagined.  Please make this happen. 

Thank you,
Max Stinchcombe

Maxwell Stinchcombe

Austin, TX