Comment Text:
i0-001
COIMMENT
CL-00696
From:
Sent:
To:
Subject:
Hathcock, Ernest A MSG RET
Tuesday, January 19, 2010 4:16 PM
secretary ; secretary
Proposed CFTC Leverage Change
Dear Secretary,
It has been brounght to my attention that a proposed leverage ratio change from 100 to 1 to 10 to 1. I believe the current
leverage rate should stay at the existing rate of 100 to 1. There are several reasons that I believe the leverage ratio should
remain as is.
If the leverage rate is changed to 10 to 1, the following is likely to happen. Small investors, like myself, would be priced out
of the market, when I say small investor it means not over 2,500 dollars. This would decrease the amount of new money into
the Forex market, which the big boys would not like. Less money would probably mean less growth in the US and world
economies.
The proposed regualation is probably mean't to protect the small investor like me but it would do the opposite it would put
me out of the market. I am a disabled retired senior citizen living on a fixed income, with banks paying about 1.5% on
savings, the Forex is my only shot of staying ahead of inflation. I know the risk involved in the Forex and never risk any
money that I cannot afford to loose. I wonder how many others are like me.
Please do not change the leverage ratio rate, from what I see it will only hurt everyone in the US and around the world.
Sincerely
Ernest Allen Hathcock
1803 Summertree Road
Starkville, MS 39759
