Comment Text:
i0-001
COMMENT
CL-05480
From:
Sent:
To:
Subject:
[email protected]
Saturday, February 20, 2010 11:04 PM
secretary
No to - RIN 3038- AC61- Thank you
Mr. David Stawick, Secretary
U. S. Commodity Futures Trading Commission
1155 21
stStreet,
N.W. WashingtonDC, 20581
Secretary @ cftc.gov
Dear Mr. Stawick:
February 20, 2010
Regarding the "Regulation of Retail Forex" RIN 3038 - AC 61" We are
100 % oppose it for the reasons below:
The U.S. Commodity Futures Trading Commission is not promoting the industry,
instead it destroys the industry or gives all of its power to the market
participants or players of great power and/or wealth.
The CFTC is supposed to protect consumers, but no, it is against consumers
without giving them protection. We don't want the change of leverage. We like
to have leverage 100:1 or
higher.
We, the consumers, should be given the
freedom and the right to choose the amount of leverage that is appropriate for
our individual desired risk; "Choice!"
This RIN 3038 -AC 61 takes awayour chances to make our incomes and, if
the leverage was changed to 10: 1, the forex market in theUSA would not be
competitive with the world forex market. Clients would have no option but to go
to different countries that offer the leverage they need.
Especially at thetime when our government needs the tax revenue the most,
yet this "Regulation of Retail Forex" is a suicidal decision. This dumb decision
may force many traders' capital to flow to foreign forex markets and that is a
very unwise regulation. Why are you doing this?
We are sending many of our jobs overseas; why should we also send our
investment cash out of our Country?
We are humbly asking for your reconsideration.
Sincerely,
Karen & Bruce Morgan
4411 Twilight Drive,
Salt Lake City,Utah 84118-5239i0-001
COMMENT
CL-05480
Cc: Senator Robert F. Bennett, Senator Orrin G. Hatch, and Congressman Jason
Chaffetz
