Professors, update your econ tests

Spotted this question on Yahoo! Answers (I was looking for examples of non-moral values but that's another story):

What is NOT a function of the Federal Reserve?
A. Giving short-term loans to banks
B. Controlling the money supply
C. Regulating depository institutions
D. Lending money to businesses for investment

This is an intro to macro classic. If you said D, that was the correct answer.  At least until the financial crisis.  Some of the recently added facilities look like they could fall into that last category.  For example, the Commercial Paper Funding Facility, which buys commercial paper directly from issuers.  That sounds a lot like "lending money to businesses..." 

Time to add E. None of the Above