The here has been a lot of pissing and moaning about the new law requiring forex dealers to have $20 million in adjusted net capital to stay in business.

Yet very few of the firms now affected by the law seem to have done much to stop it or modify it. At some point you have got to take responsibility for your own business. Everyone in the industry knew about this law. Yet where were the company press releases? Where was the organized lobbying? As Bob Dole once said "where's the outrage?!"

No. Instead you could hear the crickets chirping in the forex industry. Everyone acted as if nothing was going on. The response from smaller brokers seemed to be "maybe if we're real quiet they'll leave us alone." If Washington only hears the NFA's side of the story well then that is who they are going to believe.

If you want to blame someone for the passage of this law, blame the Forex Dealer in the mirror.

"Forex Dealer In The Mirror"

I'm Gonna Make A Change
For Once In My Life
It's Gonna Feel Real Good
Gonna Make A Difference
Gonna Make It Right . . .

As I, Turn Up The Collar On
My Favourite Winter Coat
This Wind Is Blowin' My Mind
I See These Forex Dealers In The Street
With Not Enough To Capital to Meet
Who Am I, To Be Blind?
Pretending Not To See Their Needs

A Summer's Disregard
An unregulated IB shop
And A One Money Manager’s Soul
They Follow Each Other On
The Wind Ya' Know
'Cause They Got Nowhere To Go
That's Why I Want You To Know

I'm Starting With The Forex Dealer In The Mirror
I'm Asking Him To Change His Ways
And No Message Could Have Been Any Clearer
If You Wanna Make The Forex World
A More Competitive Place
Take A Look At Yourself
And Then Make A Change

(Na Na Na, Na Na Na, Na Na,
Na Nah)

Forex Dealers Been A Victim Of
A Selfish Kind of Love
It's Time That They Realize
That There Are Some with No
Adjusted Net Capital
Not A Nickel To Loan
Could It Be Really Me,
Pretending That They're Not Alone?

A Willow Deeply Scarred,
Some trader's Broken Heart
And A Washed-Out Dream

They Follow The Pattern Of
The Charts, Ya' See
Cause They Got No Place To Be
That's Why I'm Starting With Me!