The municipal market should not be excluded from the federal government's efforts to resolve the financial crisis, the Municipal Securities Rulemaking Board's new chairman told representatives of the securities industry gathered in New York City yesterday.

In remarks to the annual conference of the Securities Industry and Financial Markets Association, Ron Stack, the managing director and head of public finance at Barclays Capital, elaborated on his comments to reporters Monday that the MSRB plans to encourage Treasury Department and Federal Reserve officials to address tight liquidity in the muni market that's preventing state and local governments accessing capital markets.

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