Comment Text:
i0-001
COMMENT
CL-05206
From:
Sent:
To:
Subject:
fuj [email protected]
Monday, February 8, 2010 3:12 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(welfare). 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 BUSINESS, 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 10k 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!
Retail Forex Trader.
