Comment Text:
i0-001
COMMENT
CL-00771
From:
Sent:
To:
Cc:
Subject:
Peter A. Staffieri
Tuesday, January 19, 2010 6:06 PM
secretary
wackypete2@aol, com
Regulation of Retail Forex
re: RIN 3038-AC61
Hello,
I just want to say that I am opposed to the legislation to reduce forex trading to 10:1 leverage. Although trading in any
instrument carries risk there are some regular working people such as myself who, via hard work and discipline, rely on
trading as a source of income. This legislation will be extremely detrimental to that end.
I enclose here the words of Andrei Pehar, Chief Currency Strategist at fxKnight, to express my thoughts better. "I am not
opposed to regulation nor regulatory agencies. But that regulation needs to be fair, transparent, and open to public input.
Other~vise it becomes corrupt and self-serving. Sure high leverage can get you into trouble if used thoughtlessly. Sure
hedging when not done properly turns one loss into two. But I believe the cure is EDUCATION, not restricting what people
can and cannot do with their investment decisions. Guide, don't dominate - government was invented to protect people and
their property, not to limit their potential."
Thank You,
Peter A. Staffieri
Peter A. Staffieri
