Comment Text:
i0-001
COMMENT
CL-01144
From:
Sent:
To:
Subject:
William Berry
Wednesday, January 20, 2010 9:15 PM
secretary
Regulation ofRetail FOREX
Good morning,
I would like to suggest that you NOT limit the margin accounts on retail
FOREX traders (ID # PIN 3038-AC61) for a variety of reasons:
1. It would take away the means for many individuals to provide for their
families, we do NOT need more people on the dole
2. It would put traders in this country at a distinct disadvantage since this
would not apply to foreign accounts. I will move mine to Switzerland if
this becomes reality as will every other trader. You will effectively kill
an industry that employs thousands here in the U.S.
3. By implementing this type of "censorship" you add credence to the
already growing concern that the current administration is Socialist and
will dictate what is best for us without regard to our desires.
4. It appears this will be the first step in massive regulation that will do
away with American competitiveness and ruin our economy even more
than current regulations have done.
How would you like it if we decided that your salaries were 10 times what
they should be and you would have to exist on 1/10
th
of what you now make?
That is what you are effectively doing without regard to the actual people who
are involved. I guess YOU know best since I am sure you are experienced
traders who make your livings trading.
William Berry
