Comment Text:
i0-001
COMMENT
CL-08557
From:
Sent:
To:
Subject:
Reid Butler
Thursday, March 18, 2010 9:23 PM
secretary
Your deplorable attempt to reduce leverage offered by American brokers
TO WHOM IT MAY CONCERN,
People in the American government have engagaed in a misguided effort to
"protect" forex brokers from themselves by reducing the legally permitted
leverage to 10:1. This will effectively drive retail traders like me to take my
funds out of American brokerages and put them in offshore brokers that can
(and will) seize on this opportunity to fill the void which the CFTC is unknowingly
creating.
I've had responsible service from my broker since the day I signed on, and I know
the risks of the forex market. I will brave those risks, even if I have to move my
money to Japan or Europe to do so.
You are threatening the livelihoods of plenty of Americans with this "safety" measure.
Cordially,
Reid Butler
Stately Spanish galleon coming from the Isthmus,
Dipping through the Tropics by the palm-green shores,
With a cargo of diamonds,
Emeralds, amythysts,
Topazes, and cinnamon, and gold moidores.
-- Cargoes,
by John Masefield (1878-1967) (All inaccurate spellings have been preserved)
