Comment Text:
i0-001
COMMENT
CL-01052
From:
Sent:
To:
Subject:
[email protected]
Wednesday, January 20, 2010 5:02 PM
secretary
Regulation of Retail Forex
RIN 3038-AC61
It was not so long ago that individual traders were effectively shut out
of Forex because of requirements that allowed only the "big boys" to
trade. It appears that you would like to turn back the clock.
There is enough elitism, cronyism, and protectionism going on in
America. There is no rational reason or valid excuse for your latest
attempt to limit the opportunity to make money to the privileged few.
10:1 is a ridiculous leverage for retail Forex, and is obviously nothing
more than an effort to prevent retail traders from competing.
Those who are dedicated Forex traders will simply open a foreign account
denominated in foreign dollars -- further depressing the USD. And I
will be among them, even should that require moving out of a country
that is becoming more fascist every day.
I hope you are not going to claim that retail Forex traders are
responsible for the current economic crises. Given that it's none of
your business how much leverage I trade, why don't you tend to the
business of preventing fraud? Seems that area could use a lot more of
your attention.
Lee Rivers
leerivers@fastmail, fm
