Comment Text:
i0-001
COMMENT
CL-05474
From:
Sent:
To:
Cc:
Subject:
Bruce Hain
Saturday, February 20, 2010 5:23 PM
secretary
[email protected]
REGULATION OF RETAIL FOREX
Dear Mr. Stawick,
I resent the efforts of the CFTC to turn what is a viable means of achieving financial
independence for many less moneyed participants into an impossibility by reducing
leverage to ten-to-one.
It speaks to the disingenuousness of the instant CFTC affair - and of your ignorance
concerning the retail forex market - that in your efforts to provide "consumer protection"
for market participants the current "comprehensive scheme" and all those preceding it have
failed to address the large number of American brokers who promote tiny minimum opening
balances while not allowing trading in amounts that can possibly be managed in accounts that size.
From this alone - absent the reams of drivel contained in your copious PDF document entitled "Part II, Commodities
Futures trading Commission", which I was not able to read - it is clear your efforts are not aimed at protecting the
masses but at continuing the move toward elitism in all matters having to do with money so noticeably aggravated
in recent years.
Yet you can't get banks to count their mortage-backed securities as assets!
Very Truly Yours,
Bruce Hain
