It looks like the Guardian is trying to help John Kerry's flagging campaign:

George Bush's grandfather, the late US senator Prescott Bush, was a director and shareholder of companies that profited from their involvement with the financial backers of Nazi Germany.

The Guardian has obtained confirmation from newly discovered files in the US National Archives that a firm of which Prescott Bush was a director was involved with the financial architects of Nazism.

Sounds like pretty damning stuff…until you read a bit further:

While there is no suggestion that Prescott Bush was sympathetic to the Nazi cause, the documents reveal that the firm he worked for, Brown Brothers Harriman (BBH), acted as a US base for the German industrialist, Fritz Thyssen, who helped finance Hitler in the 1930s before falling out with him at the end of the decade. The Guardian has seen evidence that shows Bush was the director of the New York-based Union Banking Corporation (UBC) that represented Thyssen's US interests and he continued to work for the bank after America entered the war.

So in the absence of any tangible evidence, Prescott Bush is connected to Hitler via the fact that he worked for one bank and later directed another; both of which were used by Fritz Thyssen in his efforts to fund the Nazi Party in the 20s and early 30s.

This is a concern. It also makes me feel somewhat suspicious about the teller at my bank…there is just no telling who she might be collaborating with - drug dealers, the mob, foreign leaders. I may have to check and see what kind of car she drives. I pray it is not a Volkswagen!

It is not as if this story is new, or has not already been debunked prior to today:

President Bush owes his family inheritance to Adolf Hitler, and his grandfather, Prescott Bush, helped finance the Nazi rise to power in Germany.
These stories had circulated for years but resurfaced on May 13, 2003, in the Cuban Communist Party newspaper Granma, headlined, "Bush Family Funded Adolf Hitler." As the Associated Press reports, Prescott had been on the board of Union Banking Corp., whose majority owner, the Thyssen family of Germany, indeed had funded the Nazis against a feared communist takeover of Germany in the 1920s and 1930s. Family leader Fritz Thyssen broke with Hitler over the 1938 Kristallnacht pogrom against the Jews, was stripped of his citizenship and fortune, and was in a Nazi prison at the time the elder Bush sat on that board. There is no evidence that Prescott Bush, who owned just one share of Union Banking, had anything to do with the Thyssen political work in Germany.

Some critics go even further to accuse the president of having inherited ill-gotten profits from a Nazi slave-labor operation near the Auschwitz death camp in Poland. But the Polish company in which Prescott Bush had an interest, Silesian-American Corp., was stolen by the Nazis in 1939, the year before Auschwitz was built. Discussing this controversy, columnist Joe Conason of the New York Observer writes, "Henry Ford was a Nazi collaborator. Joseph P. Kennedy Sr. was a Nazi sympathizer. Unless additional information emerges to indict him, Prescott Bush Sr. was neither. To misuse such terms for political advantage against his grandson is to trivialize very grave offenses."

I do realize that the "Bush = Hitler" people want so badly to believe that their mantra is actually true. If one of them found a razor engraved with GWB, it would prove exactly how crafty the President is...shaving off his trademark mustache to avoid detection.