The crash this time is NOT due to liquidity strain, so you don't see the spike in TED/Libor ... It is the recession expectation that is behind the crash.
dude, r u serious? what the hell TED or libor to do with on going sell off? If I do believe some "grand" plan, the only thing I can say is banks need to protect bonds market to avoid it become possible liquidity trap. For this reason, stock market needs to fall more to pump cash into bond market.