Two Year Swap Spreads State "WE WANT A BAIL OUT NOW"

Per Bloomberg:

The spread between the rate on a two-year interest-rate swap and Treasury yields surged to a record on concern that U.S. lawmakers may delay a Treasury department proposal to bailout the banking system.

The rate charged to exchange fixed for floating interest rate payments for two years above Treasury yields, dubbed the swap spread and viewed as a gauge of credit concerns, climbed to 166.38 basis points from 139.25 yesterday.