Comment Text:
i0-001
COMMENT
CL-02814
From:
Sent:
To:
Subject:
Scott Rasener
Friday, January 22, 2010 3:46 PM
secretary
10-to- 1 Leverage Proposal of Retail FOREX.
Hello, I am writing to comment on the new rule being proposed to limit leverage to 10-to-1 on retail
Forex trading. You know this is a horrible idea.You also know what effect this will have.Why is the
world would you even consider such a thing. It is unfair in a free and open economy to limit smaller
investors from being able to make a reasonable profit on an investment.We do not need a government
nanny to limit how and where we can make money, or to protect us from ourselves.
People who invest know that there is a risk of loss whenever they open a new trade.Anyone that doesn't
accept that loss, and tries to blame someone else, does not need to be investing period. They will just find
another way to lose their money,and they'll in turn want to find someone else to blame for it.They just
need to take responsible for their loss and move on.If they file complaints about it, you should not be
politically correct and tell them is not their fault.You should put the blame squarely where it belongs,
ON THEM!
First you did away with 400-to-i, now you want to do away with 100-to-i, that is outrageous!!! As I
write this, many investors are already opening offshore accounts with other brokerages, and it's only a
proposed rule at this time.If and when it's passed you will see a mass movement from U.S. brokerages,
to offshore brokerages and accounts.You know there is less protection there, and you also know it will
mean less money for the U.S. government.
I myself was already planning on moving to another country before this was proposed, but this just
cements it. You are also going to have many citizens leaving for what they know is greener
pastures.Other countries will NOT follow you in this,as they are becoming what the USA was 40 years
ago,FREE. It's truly sad that U.S. citizens will have to leave America to experience FREEDOM again. I
beg of you not to institute this rule,as it will not have the effect you desire.But it will have many you did
not intend it to. Please stop trying to protect me, from me. I am an adult,and I DO NOT WANT, or
NEED A NANNY!
Scott Rasener
812-334-8251
P.S. You need to fire the person, or committee that proposed this rule.
