Comment Text:
i0-001
COMMENT
CL-05460
From:
Sent:
To:
Subject:
[email protected]
Friday, February 19, 2010 2:45 PM
secretary
Public Comment Form
Below is the result of your feedback form. It was submitted by
([email protected]) on Friday, February 19, 2010 at 14:45:06
commenter_subject: RIN 3038-AC61
commenter_frdate: January 20, 2010
commenter_frpage: 3281-3330
commenter_comments:
CFTC et al:
is Harmful
Regarding RIN 3038-AC61. The fact that this
proposed regulation is being considered raises many
questions. It seems apparent to me that the motives
of this regulation are to disable the Off-Exchange
Retail Foreign Exchange Markets, prevent
participation by United States Citizens, and
attempt to move them to exchanges such as the CME.
This proposed regulation has unscrupulous written
all over it. The fact that the CFTC is pandering
this as an attempt to protect the consumer is
particularly offending. Perhaps it is the sentiment
at the CFTC, that United States Citizens are
incapable of making their own decisions, and
require a "smarter" group of
people to make decisions for them.
Please explain how restricting leverage to 10: 1.
will protect the consumer? The only purpose this
serves is to require that retail clients deposit
more of their hard earned money with an FCM to
trade the exact same amount. This is putting the
consumer at more risk since more of their money is
on deposit with an FCM which has the possibility of
defaulting, filing for bankruptcy, etc. which would
of course freeze the customers funds, and have a
severe negative impact on their financial well
being. This will drive the consumers to search for
unregulated alternatives, putting the consumer at
more risk.
It seems to me that the CFTC is purposefully
attempting to drive the small American Investor,
the working class family, to other markets, or none
at all. This proposition makes a clear and
offensive statement by the CFTC. That United States
Citizens don't know what is good for them, and that
they should not have the freedom to make their own
decisions unchecked by a federal entity.i0-001
COMMENT
CL-05460
To put it bluntly, this proposition is an attack on
every working class, United States citizen
attempting to increase the standard of living for
their family.
Do what's right. Leave the choice in the hands of
The People, where it belongs. I am a customer, and
I do not feel like the CFTC is attempting to
protect my interest, rather the CFTC is attempting
to redirect my investment monies to other assets
for unscrupulous reasons.
I am a United States Citizen, and I approved this
message!
commenter_name: Mark Matzeldelaflor
commenter_withhold_address_on: ON
commenter_addressl: 1237 23rd St
commenter_city: San Diego
commenter_state: CA
commenter_zip: 92102
commenter_phone: 8583444001
