Libor Costs Soar as Banks Seek Funds Over Quarter-End

"Interbank market rates have soared as concern that losses on securities linked to U.S. subprime mortgages will spread keeps lenders from providing money to all but the safest borrowers." -- Interesting as ARMs are indexed to LIBOR, not funds rates. So much for bailing out borrowers... guess the only way to do that is going to be with inflation (assuming salary inflation keeps up!)