Comment Text:
i0-001
COMMENT
CL-06832
From:
Sent:
To:
Subject:
Daniel Ng
Friday, March 12, 2010 10:16 AM
secretary
Regulation of Retail Forex
RE: RIN 3038-AC61
I am opposed to the CFTC 1:10 leverage being imposed on foreign currency exchange. The fourteenth amendment of the US
Constitution § 1 states that "the United States shall not deprive its citizens of the right to life, liberty or property...". CFTC regulation is
an attack on the economic liberty of US citizens.
Rather than trade forex, maybe the better investment is to file a federal lawsuit against the CFTC for a fourteenth amendment violation,
tie it to the federal tort claims act and a civil RICO for permanent injunctive relief and monetary damages. The federal tort claims act
waives eleventh amendment sovereign immunity on federal agencies when it has a Constitutional violation.
With a $3 trillion a day market, how many traders and brokerages have a budget set aside to entertain a lawsuit against a regulatory
agency? I urge you to rethink the CFTC's position.
Daniel Ng, JD, LL.M
E-mail:
[email protected], com
