TARP $$ - Any bang for the buck?

I'm watching CNN and they keep showing that TARP funding is creating one job for every $250k-$500k.   You don't need a Phd in math to figure out that there's something wrong with this picture.   

If the money had gone straight to established small business for expansion (which is having a dire time getting credit these days), I'm pretty sure that the ratio would be at least twice as good at creating jobs.  And long term ones too, not just a one-time study like most TARP projects. 

-Rick