Comment Text:
i0-001
COMMENT
CL-02954
From:
Sent:
To:
Subject:
Chris Hoogendijk
Friday, January 22, 2010 6:39 PM
secretary
RIN 3038-AC61
Mr. David Stawick, Secretary Commodity
Futures Trading Commission 1155 21 st Street, N.W.,
Washington, DC 20581
Dear Mr. Stawick,
The proposal to limit leverage to 10:1 is regulatory overkill and a better
solution is to have any retail customer submit a written confirmation
document stating they have read the CFTC/NFA literature describing the
mechanics and risks of forex to the forex broker opening an account.
Regulation needs to eliminate the unscrupulous brokers and let the people
grow up by taking the necessary risks without criminal interference.
This regulation will not control but rather suppress the level of democratic
fiscal activity in a market with so much potential to educate and support
many citizens of the world.
It is risk that creates wealth to the extent we all find necessary to live a
self-sufficient life.
Thank you for your time and attention,
Chris Hoogendijk
