Comment Text:
i0-001
COIMMENT
CL-06651
From:
Sent:
To:
Subject:
Tom Dion
Tuesday, March 9, 2010 4:37 AM
secretary
Regulation of Retail Forex
Sir or Ma'am,
I am a Navy Civilian living in Germany. Although it is more
socialized than the USA, Germany grants it's citizens individual
freedoms. You can drive as fast you want to on the Autobahn. You can
drink beer in the streets. Prostitution and gambling are legal. Yet,
with all this personal freedom, crime rates are low and the police
force is small.
I am opposed to the 10:1 leverage proposal. For all the traders that
are irresponsible and need this regulation, there are equally as many
that don't, and will be adversely effected by it.
Instead, why don't we:
1) Make 10:1 leverage mandatory for people opening an account under
the age of 25
2) Make all traders over 25 pass a written exam (drafted by the CFTC)
that demonstrates that the individual is competent of the risk they
are taking
3) Make all traders over 25 retake the test every year, so that it is
always fresh in their minds
Stock trading, casinos, and playing the lottery are all gambling
venues that a person can lose their life savings on if they are not
careful. Yet, we permit them to exist without regulation. Please
reconsider other options before making this drastic change that will
adversely effect so many people.
Thank You,
Thomas W. Dion, MS
Stuttgart, Germany
RIN 3038-AC61
