10:1 could be the new leverage rule

Quote from sullyforex:

I have counted almost 5,000 letters. And this is just for January! Pour it on boys! Keep those letters coming! FREEEEEEEEEEEEEEEEEEEEEEEEEEEDOM!!!!!!!!

Email secretary@cftc.gov now!
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On a personal note, looks like Im always late to the party, first I got into day trading AFTER the PDT rule went into effect (so I'm stuck paying high commissions to a prop firm), and now I'm looking into Forex and have to deal with this crap.
 
Look at the picture below it was taken off the comments from the forex leverage proposal. It is a comment from Senator Orin Hatch from Utah. Interesting that a senator gets in the mix, but for some reason I cannot see what the comment was, has anyone had better luck seeing the comment and what it was about?
 

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Quote from fibo618:

Looks like the exchange lobby will win regardless of the number of letters sent.
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I thought the same thing before I saw the cftc get pounded by congress about the leverage issue about a week or so ago, which is a big step.
 
Quote from fibo618:

Looks like the exchange lobby will win regardless of the number of letters sent.
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Totally disagree. The CFTC is going to buckle on this one. Congress is hammering CFTC on leverage. The CFTC's mandate is to stop fraud, not destroy retail forex. 10 to 1 leverage is dying a slow death. Write to secretary@cftc.gov and FINISH 10 to 1 Leverage for good!
 
Quote from sullyforex:

Totally disagree. The CFTC is going to buckle on this one. Congress is hammering CFTC on leverage. The CFTC's mandate is to stop fraud, not destroy retail forex. 10 to 1 leverage is dying a slow death. Write to secretary@cftc.gov and FINISH 10 to 1 Leverage for good!
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Last week's WSJ.com article was very telling...

http://online.wsj.com/article/SB10001424052748704869304575103992931864182.html?mod=googlenews_wsj

This comment was from CFTC Commissioner Bart Chilton:

He said the comments from the public—largely centering on the leverage proposal—have come down on the agency "like a winter blizzard," noting that it was more than at any time in the agency's history.
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And another great comparison:

Since the proposal was posted on the agency's Web site in mid-January, the CFTC has received an avalanche of comments—more than 6,000 and counting—from individual traders and brokers. By comparison, the Securities and Exchange Commission last year received 4,000 comments to its proposal to restrict short selling.
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