Robert Menendez actually said...

"The fact of the matter is if investors leave these funds and there is less demand for municipal securities, the borrowing costs for State and local governments will go up."

"With this significant jump in tax-exempt yields, how is this going to impact the ability of State and local governments to finance infrastructure and economic development projects?"

"What we have allowed to occur is this is going to be settled in the manner that Russia and Iran decide it is going to be settled."

"So there are no leverage points against the Russians, against the Iranians is basically what I am hearing."