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Letter: Stabilizing the market requires a rule change

The stock market has been an effective platform for prudent investments since it was created.

Lately, because of new technology and fast-trading techniques it has become a yo-yo of sorts, destabilizing this platform on which much of the country depends for its savings and retirement investments.

We need to get back to investing more than trading. One way to stabilize, or at least slow down the volatility of the market would be to impose a 90 percent federal tax on profits from assets that have been both bought and sold within a 72-hour period.

Kenyon Riches

East Amherst

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