Comment Text:
i0-001
COIMMENT
CL-06166
From:
Sent:
To:
Subject:
Michael Francis
Friday, March 5, 2010 11:20 AM
secretary
Regulation of Retail Forex
Dear David Stawick,
I understand that the CFTC is trying to do it's best to crackdown on the retail forex market. I value the
work being done by the CFTC, but I feel that the proposed regulation RIN 3038-AC61 would be a
substantial loss and would not be beneficial to the improvement of our economy. Seeing as how the
United States is still in a deep recession, many individuals are using the forex market to generate income
as a full-time business and others are using it to supplement their income on a part-time basis. Reducing
the maximum leverage below 100:1 would discourage a lot of people from wishing to participate in the
forex market and would proabably cause a lot of businesses that rely on the forex market to go out of
business. Thus, taking our economy into a deeper recession that will last even longer. So I urge you to
maintain the 100:1 leverage so that the everyday American can use the forex market as a tool to prosper
in these tough times.
Regards,
Michael Francis
