MUNI 是问题,俺早就说了,谁还记得是什么时候,俺想自己找,可是灌水太多的坏处实在是太大了。MUNI不会大规模default,但很可能Default in payment. It is an easier short term comprimise. Unlike Corp bonds, muni default in the payment of interet does not make the principle immediately payable. FED 和政府的解决办法就是要从自作聪明的富有者那儿骗点钱. 如果危机的结果是Corp. tax and other taxes increase, 那么对股市将是一轮不大不小的打击。