This Day In New York Times History.

Atop an article published on March 10, 1994 (though it is datelined March 9) the New York Times printed a headline proudly proclaiming "U.S. Tightens Rules To Help Investors In Municipal Bonds" and continued:

"In an effort to help the millions of Americans who own municipal bonds, the Federal Government issued new rules today intended to make it easier for them to keep track of the value of their bonds, which are often a major part of their life savings. "

The NYT had the same unquestioning faith in top down, government rules and planning then as they do today. Anyways, we have to wonder how all of those new rules worked out for muni-bond investors?