Comment Text:
i0-001
COMMENT
CL-07286
From:
Sent:
To:
Subject:
Muriel Villemonte
Saturday, March 13, 2010 11:09 AM
secretary
Leverage change 10:1 in USA
I am not in favor of 10:1 leverage.
It hurts the small person as they would have to have a huge account in order to make a small profit. It
stacks the odds higher against the small trader and in favor of the broker of winning the small trader's
account when the normal market does its normal patterns of pullbacks and reversals. A small trader can
not survive normal market conditions with a 10:1 leverage unless they have a huge account..
In a time when there are fewer and fewer jobs for people over 45 the forex market has provided a little
extra income to help them survive which makes less of a burden for the government to be helping the
baby boom generation with foreclosures, food stamps, and medicaid.
Also the governement will recieve less tax money as their middle class cash cow becomes poorer and
poorer and instead of being the ones that the government looks to to keep the government flowing with
money the government will instead have to now increase their expenses to support the ones that can no
longer support the governement.
Passing this bill would be another way the government benefits the big banks and brokers and crushes
the small person.
The question is whose side are you on? Big banks and brokers who will benefit from this bill or the
middle class baby boomers who help keep this country afloat and will be able to do it much less if you
pass this bill with 10:1 leverage.
Again I am a baby boomer and I am against this 10:1 leverage. It will have far reaching affects that will
help contribute to crippling this countrry.
