Comment for Proposed Rule 75 FR 3281
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From:
Stuart R Cohen
Organization(s):
Comment No:
1739
Date:
1/21/2010
Comment Text:
i0-001
COMMENT
CL-01739
From:
Sent:
To:
Subject:
[email protected]
Thursday, January 21, 2010 11:17 AM
secretary
10-1 Proposed Leverage Rule
Dear Sir:
Your proposed rule to limit leverage in the forex market to 10-1 is ridiculous. It will only force traders to move
their accounts offshore, and thus move another industry and more jobs out of the United States. It will not
protect anyone from losses. Traders don't need limits on leverage to protect them from losses. Traders can
protect themselves with education and proper money management. Limiting leverage in Un-American and
violates the basic precepts of capitalism upon which this country was based. If you want to regulate something,
go and regulate unscrupulous brokers who commit fraud, but don't regulate people who want to take, and will
take risk, regardless of your regulations.
Thank you.
Stuart R. Cohen
