Comment Text:
i0-001
COMMENT
CL-05005
From:
Sent:
To:
Cc:
Subject:
[email protected]
Thursday, February 4, 2010 2:40 PM
secretary
secretary
Regulation of Retail Forex
Dear [email protected],
Regulation of Retail Forex. This is ridiculous. I am an African American that voted for Obama.
rm at the point now of switching parties and voting Republican.
Our government is turning into "THE BIG BROTHER". This is America and we should be able
to take on risk without the government telling us exactly how much money we need to
guarantee in order to assume that risk. This agreement should be between the parties that
make that agreement. We already have laws in place to resolve conflicts if they arise.
Most retail customers will always find a way around the regulations and that will usually mean
they will take their business overseas or they will, if our government becomes too
oppressive, eventually move to a less restrictive country. We see this happen all the time with
major US companies moving their plants and workforce to third world countries.
There shouldn't be a "TO0 BIG TO FAIL" theory. We should just allow banks, if they don't
manage their risk properly, to fold in an orderly fashion. There is a cost and also a
consequence for greed. There is also a natural "binge and purge" flow of our economy. We
should, at most, only try to smooth out the curve not try to alter or shift the curve.
Regards,
Laurence. S haw@com cast. net
www.WatchMyCharts.com
