to tell you that they did complete this walk. look how far they went. all the way, without incident. new fallout from detroit's filing for bankruptcy. sending shock waves through the municipal bond market nationwide. the city's emergency manager wants to replace the some of detroit's municipal bonds with new ones based on different financial terms. some fear this sets a dangerous precedent for other cash-strapped cities. raising concerns on just how safe municipal bonds are. casandra is sfounder aauthor ofy the bull." let's get right to it. what does this say to other cities in terms of what is happening with detroit and municipal bond market? >> this is very significant and it really could alter for many years to come the pricing that