Comment Text:
i0-001
COMMENT
CL-08078
From:
Sent:
To:
Subject:
Peanut Dela Cruz
Tuesday, March 16, 2010 10:44 PM
secretary
Please Ditch the Retail Forex Rules Proposal
Dear Mr. Stawick,
The rules proposed for trading in the FOREX market is very alarming. This will have a negative impact
for America. The reduction in leverage is unfair to the public. I would say that I am disappointed and
concerned about it.
From what I understand, the proposed rules tell us that we don't have the freedom to make our own
choices. The government assumes that we, "the general public" are not capable of making the right
decisions for ourselves and that lastly, the rights of changing financial conditions of America are not for
average people but only for the extremely wealthy.
If these rules will be approved, I will still be trading but definitely outside the US. While we are facing
possibly the worst economic crisis, I'm very sure that this will add further damage to it. There are people
working in the industry who are supporting their families and I bet this will bring great disaster to them.
I will no longer have my heart in this administration and I will make sure it will be heard next election.
America is a free country. It is supposed to be competitive worldwide. These proposed rules take out our
freedom and may possibly end up sending more US jobs or accounts overseas.
It happened before. Companies went out of business and invested overseas because of reduction of
leverage to 100:1. What more if you reduce it to 10:1? I will definitely give up all my investments here
in the US and invest it somewhere else.
I certainly hope you this won't fall on deaf ears. Please take time to reconsider this big mistake before
stepping forward.
Thank you for your time and have a great day.
