Comment Text:
i0-001
COMMENT
CL-07361
From:
Sent:
To:
Subject:
Lou Litz
Saturday, March 13, 2010 3:53 PM
secretary
Regulation of Retail Forex
Regulation of Retail Forex RIN 3038-AC61
Dear David Stawick:
It is common knowledge that the reduction of the current leverage of 100:1 to 10:1 will destroy the majority of
retail forex brokers in the United States. It will also have a positive impact on overseas brokers. Why U.S.
regulatory agencies continually hinder the small retail investors, while simultaneously give the large companies
(AIG, FNM, and the like) huge cash bailouts (of course the money is taken from the small
retail investor
via
taxes), is beyond my comprehension. In any case, if this regulation does pass there will be a huge outflow of
investor dollars to other countries, loss of jobs in US forex brokers, and less tax revenue ultimately generated. It
sure seems like a lose-lose situation to me.
Over-regulation is destructive -just take a look at Greece.
Do the right thing - don't decrease the leverage to 10. Even better, raise it back up to 200.
Regards,
Louis Litz, P.E.
[email protected]
Work # 610-650-9900 x115
cel # 215-896-0421
Home # 215-643-5913
Other: #
215-764-6234
