May 1, 2011
I would like to publicly state, as a conscientious and proud middle-class American citizen, my strong disagreement with the decision of the SEC to allow an exemption of the foreign exchange derivatives market from the regulatory provisions of the Dodd-Frank act. This move has the dangerous potential to allow the same type of financial speculation and recklessness that caused the Collateralized Debt Obligation implosion of 2008. I believe that reasonable regulation and transparency of the excesses of Wall Street is important for the continuation of the solvency of the American Middle Class and overall prosperity. I have little hope that these comments with make a difference in the final decision about FX derivatives, orchestrated as the choice is by circles of power leagues above my financial and social position, but I exercise my First Amendment right to speak out against government policies with which I disagree none-the-less.