Muni's ready to take down the market. The only way out is BK. If bond holders get burned on this one., All unions are going to die. Then we all work for mini wage.
Not going to happen. No bankruptcy. Way to much risk for future investments
Agree with you on that one. Would render all the trillions spent on rescuing the economy moot. Think of the damage to institutions and consumers. Bye, bye wealth effect!