Comment Text:
10-001
COMMENT
CL-05214
From:
Sent:
To:
Subject:
Richard Brown
Monday, February 8, 2010 3:38 PM
secretary
Proposed regulation
The proposed regulation on maximum lrverage to 10:1 is unwise, unnecessary, overweaning and -- dare
I say it? == umAmerican. It is th fair and proper role of a regulatory body such as the CFTC to ensure
that an industry caries out transaction fairly and openly, and that all parties have ready access to
information. Given this, I as a rational and interesed adult, can make decisions about the level of
leverage that is appropriate for me, given my estimation of risks and rewards and my
personal
tolerance
for risk. I may or may not make an error in judgement or trading practice. I may choose a level of
leverage that, in the event, proves to be too high. In that case I am likely to wish that I had not acted so
foolishly. But it ifI am a fool, is not the role of the CFTC to remake my character.
