Comment Text:
i0-001
COMMENT
CL-06588
From:
Sent:
To:
Subject:
josh schultz
Monday, March 8, 2010 6:10 PM
secretary
Regulation of Retail Forex
We all know that forex is BIG business with a 3.2 trillion dollar turnover EVERY DAY. You are a part
of that. You trade. You watch the markets. It would be stupid for you not to. And we're all pretty sure
you're trading with taxpayer money. So you want to limit the leverage to 10:1 so you can invest more of
OUR money for less of a return? Who are you to tell us how to invest or limit what our investments are?
As it stands not many people have an extra thousand dollars sitting around to play with. What makes
you think that people have an extra 10 or even 100 thousand sitting around? Years ago forex was only
open to those with money to burn: rich people that wanted to get richer. Now it's open to people with
CONSIDERABLY less. If people lose their homes because they don't know how to handle the market
then they should lose their homes. People will find a way to do this regardless of what changes you
make for the sake of "protecting investors". That's a load of crap. You don't protect anyone unless you
are protecting them from unfair practices. Who however protects us when the governing authorities
abuse what has been given to them? You are there to make sure retail brokers don't screw traders not
force retail brokers to screw traders. Ever heard of Fair Trade? Ever heard of Capitalism? A FREE
market? You have heard this before that if you pass this proposal people will move off shores with their
accounts. I will certainly be one among MANY others. How will that bode for the economy? The
economy will only get better when people have a chance to make money and succeed. You want to limit
that opportunity. How many small businesses fail every year? Why aren't there limits restricting the
ammount of investment it costs to start one up? Some one would be lynched if someone passed a law
that said you can only start up a business if you have X amount of money for starting capitol. Do
something smart and offer people hope. Not just pie in the sky, but real hope. Take your tie off and work
at McDonalds for the next year. Get your hands dirty for once. Get fired and see where you end up in the
current state of affairs. Maybe then you'll have a better idea of how stupid this whole thing is.
