Matt Taibbi isn’t some schlemp, and he writes a fantastic story about the pitfall of these bonds;
I remember years ago, I attended a charity banquet at a local hospital, and someone running for county council came over and said, “I was told I should come over and introduce myself to you.” He then proceeded to talk about what wonderful things he did for charities, and what a humble man he was. I stopped him: “I’m sure you’re very nice to your wife and family, and I’m sure your dog loves you. But you’re a municipal bond dealer, and that’s really all I need to know about you.”
Am I the only one worried about the EC deal?