The Treasury Department has decided to extend bailout funds to a number of struggling life-insurance companies, helping an industry that is a linchpin of the U.S. financial system, people familiar with the matter said.
The department is expected to announce the expansion of the Troubled Asset Relief Program to aid the ailing industry within the next several days, these people said.
Seriously, how far does this go? Does anyone else picture scores of brooms with pales of water exiting the Treasury building? It's like one of those farces where each new action to fix a crisis creates a new crisis that is even larger.