Comment Text:
i0-001
COMMENT
CL-06353
From:
Sent:
To:
Subject:
Randall Zak
Saturday, March 6, 2010 2:22 AM
secretary
Regulation of Retail Forex
I am STRONGLY opposed to the proposed leverage change available to Forex traders (reducing it from 100:1 to
10: 1). This proposed action, once again, will only hurt the little guy. Are you trying to force small traders out of
this market? Large traders have so much money this will not affect them much. It is the litle guy who always is
worse off by stupid government attempts to "protect" them.
Believe me, knowing you will have a large loss when you are wrong is incentive enough for an
individual trader to procede cautiously under HIS OWN protection plan.
We small fish do
NOT
receive government bailouts when we guess wrong. If you want to "save" someone, please
do NOT help. Why don't you try making large traders like Goldman Sachs and the large banks eat their losses
instead of bailing them out? THAT would be far more effective then always regulating the little guy out of business.
Since you will probably procede with this terrible idea, why so drastic? What is the motivation for this idea anyway?
If you must procede, why not at least be reasonable and go for cutting it in half to 50:1 instaed of practically
eliminating it completely? You guys always do the wrong thing!
How about just listening to little guys like the one who tried to alert the SEC to Madoff? All your efforts always
protect big crooks and hurt honest little guys
Randall Zak
[email protected]
