Comment Text:
i0-001
COMMENT
CL-05203
From:
Sent:
To:
Subject:
minh hua
Monday, February 8, 2010 3:03 PM
secretary
RIN 3038-AC61/CFTC New Law proposal
To Whom I May Concern:
With your New proposal new leverage 10:1 in the Forex retail market its just the theory of President
Omaba Robin Hood theory, by punishing the rich, protecting the poor to create job grow. Reason why
for it, as Forex retail trader like me, I tread the Forex trading like running a small business, its about
control and operate the cost of doing BUS1NES S, if you re-strict the leverage from 100:1 to 10:1, its
exactly punishing the business people like us, and its exactly the Robin Hood theory. With the current
100:1 leverage, the cost of doing Business is still in control, but with the new leverage 10:1 it is adding a
load of huge cost for me to do business which with my current situation I can allow to have 1 Ok to run
my Business, if the new law in effect, it mean I have to pour in another 90k, or else, I either move my
account to out side the US, then it is not under the CFTC monitor, also a lot these crook out there
waiting your new law in effect so they can slowly swallow in all these fish floating out to there mouse
from US. Would I be one of those fish, I would not, I would rather shut my business down to find
another job or try to join the unemployment troop. As President keep address the public by saying
JOB...JOB...JOB??? I don't see any job will create with his Robin Hood theory, I only see in this Forex
situation, many traders out there either shut their business or move out side of the US, then it will trigger
to every broker firm have to shrink the size or shut it down, with this kind of domino effect, it can
trigger million of white collar job lost in US. with million white collar job loss, would you think the
retail sector business will pick up the strength, and would you think the local Government in every
region will generate more tax revenue to help them ease their debt deficit, the list can goes on, and let's
ask President, where is the JOBBBBBBBBBBBBBBBBBBBBBBB.
And is our economy going to recover form this Financial crisis that our Nation have been faced it. We
don't know, I think only he can answer this QUESTION?????????????.
God Bless!
Fuji,
Retail Forex Trader.
