Don't blame bond vigilantes for wanting their money back

Don't blame bond vigilantes for wanting their money back: "CONTRARY to what many people think, the investors who have pushed Ireland to the edge of the precipice are not evil speculators trying to grab more money.
They are undoubtedly highly paid but they are cautious professionals who tend to work for big financial institutions that manage assets around the world and in whom people trust billions from their pension funds.
These investors - often dubbed the ''bond vigilantes'' for their activism - are traditionally more conservative than those who put their money in shares. Unlike shares, bonds repay a fixed interest at the end of their life, and their value does not swing as dramatically as the sharemarket does. Bonds are for widows, orphans and the financially conservative, while shares are for young people with time to overcome any losses. (Or so the thinking goes.) This makes the bond market many times bigger than the sharemarket."