Feds reveal the depth and breadth of companies that needed TARP.

Via a NYT article, Feds revealed today the activities of the Commercial Paper Funding Facility (CPFF), which helped many companies besides banks. This wasn't a bailout of companies, but providing short-term loans for the purpose of such things as payroll -- you know, the stuff that revolving credit is used for. It mirrors what many people already knew, namely that credit had tightened so much that companies simply didn't have access to operating capital in order to do business.

The recent rhetoric from the Right, has been to say that TARP was a waste of money; only gullible people fall for this. Turns out, a heck of a lot of companies needed help with short term loans:

• Verizon
  
• Wisconsin Corporate Credit Union
  
• Toyota
• National Rural Utilities Cooperative
  
• Members United Corporate Credit Union
• McDonald's
• Metlife
• Harley-Davidson
• Georgia Transmission Corp
• General Electric Co
• Ford Credit
• Caterpillar
• BMW

Imagine the broad panic and ensuing, immediate shutdown of companies one by one, if the Feds had not extended short term loans directly to companies?  I shudder to think, what happens if Republicans attempt to take the US back to 2008, as they have threatened to do so on regulation, spending and health care laws.