Like High Interest? You'll LOVE "No Bailout"

Within moments of the failure to pass the bailout:

The London interbank offered rate, or Libor, that banks charge each other for such loans climbed 431 basis points to an all-time high of 6.88 percent today, the British Bankers' Association said. The euro interbank offered rate, or Euribor, for one-month loans climbed to record 5.05 percent, the European Banking Federation said. The Libor-OIS spread, a gauge of the scarcity of cash, advanced to a record

That's for overnight bank-to-bank loans. Typical business loans are written 3-5 point over that rate, and many are at 5-10 over.

Some, who are less-than-educated, think this is irrelevant. But when YOUR employer gets slapped with a 10% interest rate (or 12%) to borrow against receivables to finance YOUR paycheck, it will have an impact--possibly on you.