Comment for Proposed Rule 75 FR 3281
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From:
Gary W Borg
Organization(s):
Comment No:
2490
Date:
1/22/2010
Comment Text:
i0-001
COMMENT
CL-02490
From:
Sent:
To:
Subject:
Gary Borg
Friday, January 22, 2010 7:50 AM
secretary
Regulation of Retail Forex
Reference number: RIN 3038-AC61
Good morning,
I'd like to add to remarks I sent earlier. Consider this: The entire country is hurting economically. Millions of people have lost
their jobs (as I have), and many of these are unemployed due to deliberate government decisions--influenced by corporations-
-that have led to years and years of offshoring and outsourcing of our jobs.
One of the few straws that many of us have successfully grasped in recent years is foreign exchange trading. Due precisely to
the generous leverage allowed, we have been able to scrape out a living without having accounts that eat up an entire lifetime
of savings.
Now your proposal to limit lever to 10:1 would destroy that--and wipe out in a stroke our last opportunity to make a decent
living.
Please do not do this. It would be a disaster. Allow us the freedom to choose our own degree of leverage rather than impose
this awful burden on an already beleaguered public.
By the way, if you have any need to hire at the CFTC, I have some experience in the markets--both in trading currencies and
in commodities--and have professional experience in business journalism, including coverage of the futures markets. If you
have any interest, I can send along a resume. Please let me know.
Sincerely,
Gary W. Borg
1133 W. Pratt Blvd.
Chicago IL 60626
ph: 773 274 2625
preferred email: [email protected].
Also: [email protected]
