Muncipal Bond market woes

Here is the expected news that cities, states and other local government agencies are facing problems in accessing the bond markets.

Update 1
Automobile industry is facing a downward pressure from two sides - weak economy and credit crunch drying up loans - that saw sales plummet a massive 26.6% in September over last year. Small businesses who are dependent on bank lending now find themselves being squeezed off credit as banks tighten on lending.