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Having said that, probably the most fundamental and lengthy lasting change from the retail shareholder’s point of view has been in relation to the provision and speed of communication of details. Municipal bonds are eligible to be utilised via as collateral when industrial banks borrow funds from the Federal Reserve. On top of that banks may serve as underwriters of municipal bond problems and will often emerge from such activity holding an inventory of the paper. They might not have the regional know-how you have in your market, and there could be a lag prior to they know factors, but...