Just When You Thought We Might Be Out Of The Financial Crisis Woods...There's More Fairy Tales

Just when you thought we might be out of the woods when it comes to the financial crisis, with the Bush Administration getting their $700 billion Boondoggle Bailout sold on the idea they'd buy up bad mortgages on the books of major banks, they change their tune.

First we're told the money would be used to buy stock in major banks and get them back into the business of lending again. Then today out trots Treasury Secretary Henry J. Paulson with a new version of their financial fairy tale-turned tragedy.

As the story du jour goes, the Fed now may be giving away handouts to auto manufacturers, credit card companies and other major non-bank businesses. The stock market swooned again for the third day in a row. My 401(k) is now a 201(k), how's yours? MORE>>

image: Telegraph.co.uk/Bloomberg