Comment Text:
i0-001
COMMENT
CL-01871
From:
Sent:
To:
Subject:
Bob Boyd
Thursday, January 21, 2010 1:58 PM
secretary
FW: Re:Meeting Tomorrow on FXSteet about CFTC regulations
In Re: RIN 3038-AC61 The suggestion is without merit. Outrageous and unfair to the small guy.
..... Original Message .....
To:
'[email protected]'
Subject: Re:Meeting Tomorrow on FXSteet about CFTC regulations
Motives are obvious. Equities Brokers have lost many retail traders to the FOREX brokers. They want those
traders back, and their golfing buddies at the NFA are selling their souls. What is new in the Money World? Soul
selling abounds. Also, FOREX returns make the Equities returns pale in comparison while the equities' sales
"robots" continue to strive to rid their inventories of their gluts of dogs that are rapidly falling in value. Small trading
account FOREX returns keep me off food stamps so far. 10:1 would squeeze me out of the market.
This also helps spread The Blame for the meltdown and leaves the Investment Banking Greedons (Greedy
Morons) on the back burner. Several events presaged this heavy handedness.
1. Dropping margins to 100:1 when there is no evidence that the small retail trader contributed at all to the
meltdown.
2. Prohibiting hedging, when hedging in FOREX is a safety factor rather that a cause for meltdown since the
sophisticated FOREX trading platforms will limit and manage trades.
Don't forget the Golden Rule, "Those who have the gold, rule". Regulators have already decided the outcome of
"public hearings" you can be sure. You can also be sure that I will be looking to move my small account(s)
somewhere overseas where there is less favoritism.
Boristabby5
