The court noted that despite the ban, municipal bankers still can participate in "the vast majority" of political activities, including expressing their views and soliciting votes.

The ban on investment bankers prohibits donations from municipal bankers to state and local official who hand out lucrative bond underwritings.

To this end, both the Democrats and the Republicans have planned lavish events at their upcoming national conventions to bring municipal bankers and politicians together.

At all these events, municipal bankers can meet with state elected officials and important Republican policy makers.

Ronald E. Blaylock said that the corporate world might provide some corners of opportunity for municipal bankers.

Temin is married to Walter Kicinski, a former municipal banker and former chief financial and administrative officer of the New York State Power Authority.

Corporate bankers have been elbowing municipal bankers aside for many deals, especially glamorous ones overseas.

By contrast, municipal bankers keep stressing that they are the ones schooled in financing public projects and in understanding the politics.

In the future, municipal bankers may have to make money much the way they did in the past.

Fewer bonds are being issued to finance schools and roads and this means more municipal bankers are losing their jobs.