Comment Text:
i0-001
COMMENT
CL-00229
From:
Sent:
To:
Subject:
[email protected]
Sunday, January 17, 2010 4:50 AM
secretary
10:1 Leverage Proposal
- 90% of the account will go offshore, mostly to the United Kingdom
- Thousands of high educated jobs will be lost
-
An industry worth over $1 billion gone, loosing millions in taxable revenue.
-
The proposal does not fix fraud, the subject the rule tries to adjust. Battle against unlicensed FDMs and IBs fix
the fraud, not 10 to 1 leverage.
- 100 to 1 leverage is very popular. Traders simply will not accept 10 to 1 leverage.
- Unregulated dealers from around the world will also benefit.
Conclusion: Thousands of jobs lost when unemployment is at 10%, consumers more vulnerable to fraud, and the
United States tosses away one of the most promising export industries.
Does this make any sense to you?
