Comment Text:
i0-001
COMMENT
CL-02429
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Subject:
thomas basich
Friday, January 22, 2010 2:39 AM
secreta ry@ ctfx. g ov
regulation of retail forex
I want to express my concerns about changing the leveraging for small traders in the forex
market.I for one think that this is a bad idea.There are a lot of small traders who depend on the
forex market to make a full time living or people such as myself who are trying to supplement their
income by trading.I am a retired firefighter and I have been trying to help support myself by
trading.As years go by my retirement is buying less and less. My cost of living raise is about 3% a
year. Health care alone is going up every year in double digits! Any change in the leveraging will
certainly hurt me and many others like me.It may not hurt the big traders who have large accounts
that they can leverage but the smalll traders who are trying to feed their families would be hurt
very much.I think that in these hard economic times anything that hurts American families and
their ability to provide for their families is a bad idea.It will also hurt the federal government in the
fact that these traders will be paying less taxes and it might just drive them out of the business
completely which will have a trickle down effect to brokers and other companies who specialize in
dealing with small traders.I would hope that your office takes into account all of these facts before
making a change that could have a huge impact on many American families who are struggling
very much..Thank you ..Tom Basich
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