Comment Text:
i0-001
COMMENT
CL-08679
From:
Sent:
To:
Subject:
Yechiyah
Saturday, March 20, 2010 9:08 AM
secretary
Proposed regulations concerning Forex trading
To whom it may concern,
Another step toward eliminating the little guy. I for one will be at the polls in November and 2012 and eliminate incumbents-
the real problem. You may not be elected but we can have a real effect. You know as well as I that the proposed changed will
have this effect and I do not relish your intervention to protect your own position.
Your changes will have the following effects:
Should the 10 to 1 leverage rule proposed by the GFTG be adopted:
¯ Funded accounts currently in the U.$. system can be expected to go offshore.
¯ Forex fraud may worsen, not improve. Unregulated dealers from around the world will thrive, while operating
without requirements for capital adequacy, risk management models, marketing ethics, dealing practices or
even returning of customers funds.
¯ The United States may cost itself millions of dollars in trade revenue.
¯ Thousands of white collar jobs that require an advanced education and range from software developers to
accountants to foreign exchange dealers may be eliminated, or move out of the United States.
How far do you think you can push? The British kept pushing-the French kept pushing; but the French population got it right
and really got attention.
Best regards for doing what is right,
Yechiyah A Hawkins
