Comment Text:
i0-001
COMMENT
CL-07492
From:
Sent:
To:
Cc:
Subject:
Bob Hay
Sunday, March 14, 2010 3:16 PM
secretary
[email protected]
Regulation of retail Forex; RIN 3038-AC61
Dear Secretary Stawick,
I am an active trader, 64, and retired BECAUSE I can not find a job due to my age and prior executive status.
I depend on my Forex trading to subsidize my retirement income. If I lose this income, my house will go into
foreclosure immediately. I strongly OPPOSE changing the leverage ratio from 100:1 to 10:1.
I have been monitoring this issue for many months and have already moved my accounts overseas as I think
most Americans will if the leverage changes. You may be able to regulate some portion of the market but you will
never be able to regulate risk unless the entire market agrees with your position. If that did happen, millions of
traders like me would be eliminated as well as that tax base.
Best regards,
Bob Hay
Newhall, California
