The other leg of the stool is the Bond market is dropping like a rock. So who cares? You all should.

Back before the big Auto take overs many municipalities invested their retirement accounts in Corporations too big to fail. The Mr Obama made the decision that regardless of SEC rules and law that the Auto Corporations would pay the Union demands, Executive Parachutes, and taxes before they paid the preferred stock.

Mr Obama's comment this will only harm the rich investor speculators! Those were the municipalities. The Firemen;s funds. The police benevolent funds. The municipalities had to issue Bonds to resettle the employee retirement funds.

These Bonds we found out on Friday last were dropping meant little to us. These Bonds are held by Insurance Companies, Public Utilities, etc to pay their employees retirement funds.

When the Fed raised the cost for these Bonds to renew they made them untradable. Since they don't get renewed the fund expenses start drawing down the principals. The funds become an expense not an investment. When they get to some point they become unsalable and the source of the funds get eaten by the fees.

These bonds are also used by some states to back up the unemployment insurance.