The municipal bond industry is tired of being bashed. It's gotten to the point ... , sources tell me. It's gotten to the point ... You name it, that's the point it's gotten to. People are afraid to send birthday cards to state treasurers, take finance directors out to lunch, send flowers to bereaved widows and orphans.
And The Bond Buyer is right in the thick of it. "Is this an article from the old Bond Buyer or the new Bond Buyer? " friends will ask in the same spirit as one would inquire, "Is this regular or high octane gasoline?" You can tell these boys have been in the industry for quite some time in order for them to remember "the old Bond Buyer," which was more of a trade newspaper than a newspaper covering a trade. The dividing line in many people's minds is somewhere around 1980 or 1981.