AFAIC, that spike was Hank the Shank's and Helicopter Ben's work -- remember the "panic" bailout bill? The one we absolutely, positively had to pass overnight, for a zillion damned dollars or the whole world is going to hell?
We basically cut a huge check to four or five Wall Street investment banks, and they bailed out their buddies. They ripped us off.
One should consider this quote by W:
"I've abandoned free-market principles to save the free-market system"