Comment Text:
i0-001
COMMENT
CL-03462
From:
Sent:
To:
Subject:
Mike Varner <[email protected]>
Sunday, January 24, 2010 6:36 AM
secretary
No to 10:1 leverage
I lost my job awhile back and before that I was studying forex investing in case of a job loss.
As it happens, I did lose my job, but have been diligently working my forex account to a profitable
level.
Now, I can support my family and have a future. It took quite a bit of struggle and learning, but like
anything, if you stick with it and don't give up, you can do it.
However, after all my work, I hear that there are proposals to change my profitability. I cannot believe
you want to put training wheels on forex investing. So you want to make it safe for everyone by
reducing the leverage to 10:1? How will that benefit anyone? How can you inflict financial damage onto
American families that work so hard to make forex investing work for them?
If this is to protect new investors, then they should practice before making a risk. There are plenty of
disclosures warning people of these risk. You cannot dumb down the market to meet new investor
needs.
If these regulations take effect, there will be a mass exodus of investors for US brokerages. The damage
to their families and the economy is going to be huge.
You need to leave people to make or break their own future. Their is to much government involvement
here. It is getting to the point of destroying our American way of life.
If there are hidden agendas here, you need to dig down deep and ask yourself if you can live with the
guilt of what you are doing to American investors. This economy has forced us to re-invent ourselves.
With struggle and determination we have achieved that. Now you want to take the dream away? This is
not what this country is about.
Sincerely,
Mike Varner
