Meredith's Muni Armageddon Wildly Off Mark

This was supposed to be the year the $3.7 trillion state and local debt market would be rocked by an exploding pension time bomb and â??hundreds of billions of dollarsâ? of defaults, according to analyst Meredith Whitney. Whitneyâ??s Armageddon never came. Instead, munis became the star performers of 2011.