conceived to stabilize financial markets and restore investor confidence. But now it is looking so amorphous and vulnerable to political trade winds, that it is has become almost a constant of uncertainty.

"Things are changing so quickly, to a certain extent, it undermines the effectiveness of the actions undertaken" " Michelle Girard, senior economist at RBS Capital Markets, told CNBC Tuesday. "It makes people feel they don’t really have a handle on things."

"It's a little like the Keystone Kops," Girard added. "They're very reactive and it's very ad hoc and I think that undermines confidence at a time when what we need most is confidence that the officials in Washington know what's going on and know how to address the problem." (See her full comments in the video)

The latest turn came from Treasury Secretary Henry Paulson, who disclosed Monday that he did not plan on seeking authorization to release the second $350 billion in funds authorized under the TARP plan. He said he wanted to "preserve the firepower, the flexibility we have now and those that come after us will have."