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Comment for Proposed Rule 75 FR 3281

  • From: fujikimbo88comcast
    Organization(s):

    Comment No: 5213
    Date: 2/8/2010

    Comment Text:

    i0-001
    COMMENT
    CL-05213
    From:
    Sent:
    To:
    Subject:
    fuj [email protected]
    Monday, February 8, 2010 3:35 PM
    secretary
    Fwd: RIN 3038-AC61/CFTC New Law proposal
    ..... Forwarded Message .....
    From: fujikim bo88@comcast, net
    To: [email protected]
    Sent: Monday, February 8, 2010 3:22:47 PM GMT -05:00 US/Canada Eastern
    Subject: RIN 3038-AC61/CFTC New Law proposal
    To Whom It 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.