Comment Text:
i0-001
COMMENT
CL-00784
From:
Sent:
To:
Subject:
srinivas gadiraju
Tuesday,
January 19, 2010 6:26 PM
secretary
"Regulation of Retail Forex"
RIN 3038-AC61
Sir,
the new proposed restriction on leverage to 10:1 from 100:1 will severely impair small investors and traders and benefit big
banks and players who have used leverage to run down the economy and got bailed out by tax payer money.
"I am not opposed to regulation nor regulatory agencies. But that regulation needs to be fair, transparent, and open to public
input. Otherwise 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."
Sincerely
