Comment Text:
i0-001
COMMENT
CL-00608
From:
Sent:
To:
Subject:
Mike Barnes
Tuesday, January 19, 2010 1:39 PM
secretary
Regulation of Retail Forex
I'm writing in regards to RIN 3038-AC61, the proposal to decrease leverage on retail Forex. I feel this is not
the time
to decrease leverage in a time of much needed economic recovery in a fragile economy. This proposal will
drive traders and their much needed
capital to foreign emerging markets therefore offsetting any type of U.S. based stimulus plans. As we've seen,
all the actions of the NFA have succeeded in accomplishing just one thing.., driving US investment funds
offshore (at a time when the US needs to be doing precisely the opposite - attracting foreign capital to help it
recover from recession) I believe the cure is EDUCATION, not restricting what people can and cannot do with
their investment decisions. Guide, don't dominate - government was invented to protect people and their
property, not to limit their potential. This is another way to limit small business and entrepreneurs potential.
This proposal is a bad idea period.
Sincerely
Mike B.
TBO
