Comment Text:
i0-001
COMMENT
CL-00949
From:
Sent:
To:
Subject:
Velda
Wednesday, January 20, 2010 10:26 AM
secretary
Proposed change to Farm bill.
Dear sirs, Enacting the proposed changes would effectively close down retail forex market, the vehicle many
small traders have turned to for income. The 10-1 proposal would require each of us to be millionaires. While
understanding the need to reduce speculation the 10-1 is extreme and unnecessary. It is agreed that 200-1 is
extreme on the opposite side of pendulum and needs to be reduced. A reasonable compromise which would
not take away the opportunity for income from individuals of modest resources might be 50-1, which is all that
is needed to curtail over speculation.
If there is serious need to "protect" the poor inexperienced trader from "learning", why not require a basic test
to be passed. Registration as a trader is already required for tax purposes. The majority of individuals are not
gambling, but are studying and learning about the financial relationships of the financial market. With the
internet it is no longer necessary to leave control in the hands of the few large players, many of whom have
proven ridiculously inept and do not have the welfare of the country as a concern, but rather the lining of their
pockets with undeserved bonuses and salaries regardless of the moral or legal implications of their actions.
It is suspected that these new proposals are intended to restrict the opportunities to wealthy companies and
individuals. This is totally against what the United States Of America is suppose to provide -
equal opportunity
for all.
All investing carries risk whether it is rehab of property, options, stocks or currency. Perhaps enforcing
current requirement, better monitoring of large speculators who have proven untrustworthy would return the
desired results.
Please, consider the harm and job loss that could follow enacting this extreme proposal. Over protection
restricts opportunities to grow.
Sincerely,
Velda Hooper
11708
Big Canoe
Jasper, GA 30143
