The call: Munis are safe, for now

High-net-worth individuals often hold tax-exempt municipal bonds for income and relative safety.

So when President Barack Obama recently threatened to lower the tax break for high-income couples, the announcement made the phones ring at money management firms such as Naples-based Wasmer Schroeder.

Wasmer Schroeder, which specializes in fixed income and has an excellent track record with its municipal-bond portfolios, says passage of such legislation is highly unlikely.