What's Going on in the Credit Market?

Two days after treasury bills added this new chorus of how high the moon the nation's banks began to limb their version, taking the prime rate charged to the nation's biggest corporations to an unheard of 13 %. One theory i've seen, and, you know, it's kind of a sort of moral hazard argument, but there are people who say, because the fed came in last time with the corporate bond purchasing prgramme, maybe that's one reason we haven't seen the market panic. But i think people are looking for that pressure, and you are starting to see some signs of it around the edges. So what's your reaction that christina, is any for of fixed income