The recent 50-60 basis point rise in LIBOR has been highlighted in the press.  A similar back up in AA domestic commercial paper rates has gotten no press at all.  Both signal the danger of further credit difficulties.  It seems many banks and institutional investors are reluctant to lend because they can only presume other institutions are suffering same undisclosed problems they are hiding.  How long will it be before the banks CAN'T issue another $5-10 billion preferred every other day at any rate?  And then?

Dick