Muni Threat: Cities Weigh Chapter 9 [WSJ]

The safety of municipal bonds is discussed in this WSJ article

The economic slump, however, is forcing debt-laden cities, towns and smaller taxing districts throughout the U.S. to consider using Chapter 9. As their revenue declines faster than expenses, some public entities are scrambling to keep making payments on municipal bonds. And that is causing experts to worry about the safety of securities traditionally considered low risk.