Comment Text:
i0-001
COMMENT
CL-07242
From:
Sent:
To:
Cc:
Subject:
G.H. Neubert
Saturday, March 13, 2010 9:29 AM
secretary
[email protected]
Regulation of Forex
Dear Mr. Stawick,
In reference to RIN
3038-AC61
As an American, I stand amazed at the proposed leverage change for FOREX trading in the United States. Since
I am certain that you have received sufficient mail concerning this idiotic proposed change, I will keep this brief,
and only want to remind you that the job of the CFC is to:
1. protect the public from business predators like Mr. Madoff and associates (where your agency did a
miserable job), and not to act as a self-appointed governmental representative for the small investor (like me).
2. create an investment environment for the general public to participate in the growth of America. Someone
at your agency is confusing leverage with risk management. I personally need the present leverage of 100:1 to
put on decent trades, even though I keep my losses down to a manageable 2% of my account. If you persist in
your initiative, then I, along with many loyal Americans, will probably be forced to move my account to foreign
shores .... all because of the misguided drive on the part of the Commission to "protect" the public interest. Or, am
I misinterpreting the motivation of your agency, and you are intent on driving the small investor out of the market
so that the "big money" players who almost caused the financial collapse of the world monetary system last year
to have an even freer hand? Or is the intent to send moneys out of the United States into foreign countries? If the
latter is the case, then perhaps it is time that my Congressional representatives become engaged in the
discussion of the proposed regulation change.
Bottom line, please do not fiddle with a system that "ain't broke", and concentrate the energies of your agency on
the market predators, be they in the stock, commodity, or FOREX market, or in the U.S./world banking system.
Thank You,
Gunter Neubert
A "small" investor
