Comment Text:
i0-001
COMMENT
CL-00890
From:
Sent:
To:
Subject:
[email protected]
Wednesday, January 20, 2010 12:37 AM
secretary
Regulation of Retail Forex, R1N 3038-AC61
Regarding the proposed rule to limit retail forex traders leverage to 10-1
A) If it isn't broken, don't fix it. Leverage should be between the trader and his broker.
B) The 2 main effects of implementing this requirement will be:
1) retail forex traders with U.S. brokerage accounts will close them and move their money to European brokers;
2) the U.S. retail forex broker industry will die, along with hundreds (maybe thousands) of jobs. Nice going
President Obama.
C) Instead of attacking main street traders, go after the Wall Street investment bankers whose unregulated
trading of derivatives like credit default swaps almost destroyed the world economy. After a year in office, Obama
and Congress have done nothing to regulate this gambling activity.
Jan Bergeron, 2024 14th St. Sacramento, Ca 95818,916-444-7292
