Comment Text:
i0-001
COMMENT
CL-02198
From:
Sent:
To:
Subject:
Mike Parker
Thursday, January 21, 2010 8:06 PM
secretary
Current margin reuction proposal
Any proposal that would decrease the ability of the retail trader (but obviously not the "houses"
themselves) has to be considered more from the concept of destroying the smaller retail broker who had
nothing to do with the financial collapse we are going through. Obviously nothing more than a repeat
of the SEC journey in the late 90's that removed decimalization and then created the need for a $25000
stock account if one wished to short or even trade more than twice a week.
It is overpoweringly obvious at WHOM you direct these "helpful" regulations and continuously forces
brokers to open shop "offshore" to get around what you are doing, and which i wholeheartedly approve.
Granted, at some point you will outlaw that process, which will force me to either illegally or legally
"move" my trading to Europe, Russia, China or parts of the Middle East (as well as many truly offshore
islands)
If this is the direction you wish to pursue, you're going about it very well --- you should be truly
ashamed of yourself, hiding behind what you propose as a "good" thing but is neither needed or
WANTED by any traders I i know !
Fortunately, the $25,000 requirement in stocks is now a number much more easily reached by traders
than in the 90's and in a short time, the equity pools of the forex traders will build to where your
ridiculous margin
cutbacks will become a joke also.
I presume that good government is really composed of good liars
Michael Parker
