Comment Text:
i0-001
COMMENT
CL-07846
From:
Sent:
To:
Subject:
Art dellerson
Tuesday, March 16, 2010 12:18 PM
secretary
CFTC Forex Regulations
Good Morning.. I am a retired person no longer able to work at a regular job. I am able, however, to
supplement my retirement income by trading in the foreign exchange markets.
My trading account is with a US broker. U.S. brokers are in direct competition with foreign brokers for this 3
trillion forex market.
In order to keep the US competitive in this market (and you are aware how this country's competitive edge has
dulled over the years) it seems counter intuitive and self defeating to set the leverage level at a point where
US forex traders will be forced to establish their accounts offshore. I'm sure you are aware there would be
serious unemployment issues associated with the weakening of the forex sector.
One of the reasons the US has stood tall and led the rest of the world in so many ways is because we, as a
people, are free to set our own agendas and make our own financial decisions....and take responsibility for
those decisions.
I would be willing to wager that inside the Beltway (including the Gov't agencies and legislative branch) there
are thousands of people who trade forex who would be adversely affected should extreme changes in forex
leverage be mandated.
In today's world of instant communication and global dependence it occurs to me that many of the following
sectors would be affected. Advertising (print and Broadcast and Internet) Computers and accessories,
Publishing, Hotel and convention facilities. All these and more are widely utilized by traders and brokers.
It's a bad idea to interfere with the rights and personal decisions of American citizens. If the US Government is
interested in sending more American wealth overseas...Iower the leverage
