This story was reported by John J. Doran, Aaron Pressman, and Sharon R. King in New York; Geoffrey A. Campbell in Washington, D. C; John Racine in Dallas; April Hattori and Karen Pierog in Chicago; Keith DuBay in Denver, and Dennis Walters in Los Angeles. It was written by Doran.

Market participants reacted with a mixture of cynicism, concern, and praise to a proposal by the Municipal Securities Rulemaking Board to ban some political contributions and improve disclosure.

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