% cat safe2.py
import sys, traceback

def safe(entry, *args):
    try:
        apply(entry, args)      # catch everything else
    except:
        traceback.print_exc()
        print 'Got', sys.exc_type, sys.exc_value

import oops
safe(oops.oops)


% python safe2.py
Traceback (innermost last):
  File "safe2.py", line 5, in safe
    apply(entry, args)      # catch everything else
  File "oops.py", line 4, in oops
    raise MyError, 'world'
hello: world
Got hello world