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URL:  http://boards.fool.com/quotthose-in-munis-as-part-of-the-portfolio-for-27033752.aspx

Subject:  Re: Market Fears Date:  9/26/2008  10:09 PM
Author:  Howie52 Number:  14019 of 19257

"Those in munis as part of the portfolio for retirement have been hearing some ominous rumblings the past few weeks and months re city/state finance difficulties due to lower revenue and the current market meltdowns possibly affecting them.
At this point, I'm not sure how much is rumor and how much is early warning. "

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Folks can check what happened when some localities went bankrupt -
Orange County in California is one place that comes to mind - but I don't recall what happened to their bonds.
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