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Comment for Proposed Rule 75 FR 3281

  • From: Thelma Saulsberry
    Organization(s):

    Comment No: 4547
    Date: 1/30/2010

    Comment Text:

    i0-001
    COMMENT
    CL-04547
    From:
    Sent:
    To:
    Subject:
    Thelma Saulsberry
    Saturday, January 30, 2010 2:08 AM
    secretary
    Regulation of Retail Forex
    Dear Mr. Stawick,
    I am a relatively new trader in the Forex market. I am learning and profiting. I am also a
    home maker and home school teacher of 18 years. I am 50 years old and I have a college
    degree. My husband, a brilliant marketing executive, is currently unemployed. His
    unemployment is a cycle that has occurred every two years for the past 6 years. Every time
    we get ahead, circumstances, whether it's health bills, college tuition or unemployment knock
    the financially fit rug out from under us. So I decided to take up investments, especially
    Forex, as a means to propel us out of debt, makes ends meet, and build for retirement. We
    have had to dig into my husband's 401K to pay for the taxes on our home every year for 5
    years. I know this may sound like a "tugging on the heart strings" kind of story, but it is all
    verifiable. My oldest son is no longer in college because we can't pay the tuition and my
    husband makes to much for my son to receive any substantial financial aid. He decided to
    leave school instead of reap the incredible debt that was looming over his head before he
    could even graduate.
    My question to you is, how could you even think of changing the leverage requirements in
    the retail Forex market? How much more do those with too much need? You are trying to
    take what little hope I have of building wealth for my family and possibly changing my family
    tree. My husband has worked for telecommunication companies and energy companies
    where the profits were in the billions ( you know who they are), he was responsible for over
    50 million dollars in accounts one year and he didn't even get a commission. Then he was
    laid off by that company which received bail out money. I am constantly shocked and
    saddened by people who sit around and look for ways to make the middle class miserable.
    This must stop. I am asking you to leave the leverage as is and give me a chance to make a
    difference in my family's future. If you lower the leverage, I will no longer be able to afford to
    trade. Is that your goal? Please, reconsider. I am thankful, GFT, my Forex broker, made me
    aware of this recent development.
    Sincerely,
    Thelma Saulsberry
    RIN
    3038-AC61
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