Comment Text:
i0-001
COMMENT
CL-02417
From:
Sent:
To:
Subject:
Henry Borra
Friday, January 22, 2010 2:10 AM
secretary
a comment concerning proposed change in lereage.
The proposed change is yet another ploy by the the current Obama administration
to limit the possibilities of acquiring wealth at any cost. You want to limit risk? Then why not shut
down every casino and lottery in the US first?
Yes I sustained losses in my first 16 months ftrading. It is called learning to manage risk ad learning
how to understand the market and what government policies
and how international commerce and global economics interact to influence currency values.
So, now you want to restrict trade leaving it at a level of leverage that only the truly wealthy or large
institutions can afford.
Just another slight on the America our founding fathers wanted to keep safe.
This is entirely an injustice to those of us that have paid the dues, no one forced us... we should at least
be grandfathered. Yes, those of us that have made the stay will now lose our investment in the
education bty not being able to afford the "buy in." In otherwords, I was permitted in the card game and
now you are raising the table minimums forcing us into a position that we cannot recoup losses.
Interesting but consistent w the current administrations insanity of big brotherhood.
I'll be the first to say that if this does go through I will using the Tim Geithner method
of determining my annual taxes. In short,
if the government closes my opportunity to recoup now that I am becoming successful at trading, I am
sure to just let some of my earned income that I generate as a physician, against a fair number of free
services I provide, kind of miss the boat at reporting time. Now is the time that government policy
promotes dishonesty of the citizens.
So, think over just how unconstitutional and criminal it is to make such a restriction on average wage
earners that want to develop
new investing techniques. Once again, another act of government "not by the people."
While some restriction to leverage is good nd keeps beginners from going bust, 10 to 1 is clearly
excessive. It will kill off
a lot of legitimate businesses that provide access to the Forex markets and keep potential growth frpm
the middle class.
AT LEAST ALLOW INVESTORS THAT GOT INTO THE MARKET WITH HIGHER LEVERAGE
TO KEEP THAT AS CONSOLATION.
FRANKLY, I HOPE TO SEE THE OBAMA ADMINISTRATION COME TO AN EARLY END
BEFORE THIS COUNTRY COMPLETELY FALLS INTO SOCIALISM, ABORTION
EUTHANASIA AND REDISTRIBUTION OF WEALTH TO THE GOOD OLD BOYS THAT
WOULD RATHER HAVE A BEER THAN A JOB.
Henry M. Borra, M.D.
316-650-1805
