Comment Text:
i0-001
COMMENT
CL-04015
From:
Sent:
To:
Subject:
Jim
Tuesday, January 26, 2010 9:18 AM
secretary
Regulation of Retail Forex
I am writing to you regarding the proposal of []Regulation of Retail Forex [2. Please do not impose the
margin increases of 100:1 to 10:1 as described in the proposal. Hundreds of thousands of people like me
are able to add a little money to our retirement income by trading in the Retail Forex market. If you pass
this rule you will make it impossible for me to participate any longer. The vast majority of us have spent
years learning to use current events, technical indicators & many other tools to aid us in competing in
this market. I once traded stocks pretty heavily and then they changed the margin requirements so that
only the wealthy could take advantage of shorting stocks & that was the end of people like me being
able to short stocks because I didn[]t have the []extra cash[] to sit idle covering an inflated margin
requirement. And, who allowed the wealthy to cheat millions of people out of their money because of
Madoff, the government, that[] s who. It was the governments fault not ours. It didn []t have anything to
do with margins.
Have you thought about all the jobs you are about to eliminate? Have you thought about all the
money you are about to take out of circulation? Do you think I[]m going to put my money in a bank to
earn maybe .0010% interest since I can []t invest it in the Forex market? You guys can give banks & the
auto industry & foreign governments billions of our hard earned dollars & then take away the only
methods we have of finding a way to have money to help pay for some the problems that arrive with old
age. Sometimes you guys aren []t helping the problem sometimes your regulations are the problem.
I[]m not so foolish as to think []you[] are personally responsible for all the things that I have
mentioned however, []you [] represent [] THE [] entity responsible for me not getting a raise on my
Social Security & my former company shifting the entire cost of my health insurance to me & the
increase in all my federal taxes I know I[]m going to have. And it[]s all to pay for the crap that
[]YOU[] regulators keep imposing on the people that it impacts the most.
Please do not destroy the only method I have to spend my day participating in something as
interesting & globally important as the Retail Forex market by changing the margin requirements.
A concerned investor
