Comment Text:
i0-001
COIMMENT
CL-01661
From:
Sent:
To:
Subject:
Velda
Thursday, January 21, 2010 9:31 AM
secretary
RIN 3038-AC61
Please provide expanded explanation:
How will would it work for Brokerage with offices around the world?
What is to keep accounts established abroad from using different leverage requirements?
Does the CFTC have the right to in act rules that put out of business smaller enterprises and favor the largest?
Perhaps individuals making their own decisions and suffering the consequences brought by that - THIS
INCLUDES THE BIGGEST, RICHEST AND MOST POWERFULAMOUNG US!!!! -is the solution instead of bail outs,
more restrictions and less freedom to prosper.
Consider your suggested action. The result might not be what is expected. People are very tired of regulations
that seem to nail them to the floor while large companies executives continue to appropriate enormous profit
for themselves. This proposed ruling is seen in the same light.
This is my second email concerning RIN3038-AC61. I am attaching my first to this.
Respectfully,
Velda Hooper
Subject: Proposed change to Farm bill.
Dear sirs, Enacting the proposed changes would effectively close down retail forex
market, the vehicle many small traders have turned to for income. The 10-1 proposal
would require each of us to be millionaires. While understanding the need to reduce
speculation the 18-1 is extreme and unnecessary. It is agreed that 288-1 is extreme on
the opposite side of pendulum and needs to be reduced. A reasonable compromise which
would not take away the opportunity for income from individuals of modest resources
might be 50-1, which is all that is needed to curtail over speculation.
If there is serious need to "protect" the poor inexperienced trader from "learning",
why not require a basic test to be passed. Registration as a trader is already
required for tax purposes. The majority of individuals are not gambling, but are
studying and learning about the financial relationships of the financial market.
With the internet it is no longer necessary to leave control in the hands of the few
large players, many of whom have proven ridiculously inept and do not have the welfare
of the country as a concern, but rather the lining of their pockets with undeserved
bonuses and salaries regardless of the moral or legal implications of their actions.
It is suspected that these new proposals are intended to restrict the opportunities to
wealthy companies and individuals. This is totally against what the United States Of
America is suppose to provide
equal opportunity for all. All investing carries
risk whether it is rehab of property, options, stocks or currency.
Perhaps enforcing
current requirement, better monitoring of large speculators who have proven
untrustworthy would return the desired results.i0-001
COIMMENT
CL-01661
Please, consider the harm and job loss that could follow enacting this extreme
proposal.
Over protection restricts opportunities to grow.
Sincerely,
Velda Hooper
11788 Big Canoe
3asper, GA 38143
