From the White House to the federal budget, Obama administration officials have made the bailout of the banks and investors of the 1930s their most infamous legacy.
It is an act of political hubris, and one that has only deepened the country’s deepening economic woes.
Now, for the first time, we are learning how the Obama administration went about helping the financial institutions that helped bail them out, and what their role in the bailout was, as the economy recovers.
Here’s what we know about the banks, bondholders, and investors whose bailout money the administration used.
The Troubled Asset Relief Program: Obama signed the Troubled Assets Relief Program into law in 2008, with the goal of helping American businesses and families.
It was designed to help banks and other financial institutions recover from the financial crisis, and the administration’s top officials said it would give them the ability to help customers recover as well.
The program’s most famous recipient was Citigroup, the bank that helped Obama get elected in 2008.
The bank’s chief executive, John Mack, said that the bank’s bailout helped American families “make a better life.”
The program was a $500 billion infusion of taxpayer dollars that helped hundreds of thousands of Americans.
Citigroup and other banks that benefited from the bailout were supposed to be able to use that money to help their customers recover, but they didn’t.
Instead, they got a portion of it back to them, and they weren’t allowed to sell it.
In fact, the Treasury Department said the bailout funds weren’t tied to the banks’ actual performance, which would have meant they could have used it for other purposes.
“Citigroup did not make its own decisions on its bailout,” the Treasury Inspector General for Tax Administration said in a scathing report released last year.
“It was given a large share of the bailout money.
It is not clear that Citigroup was able to fully assess its own risks and made decisions that were reasonable and in the public interest.”
Citigroup has long been criticized for its bad track record.
In 2010, the company pleaded guilty to misleading the public on the value of its bonds.
In 2015, the Securities and Exchange Commission fined it $20 billion.
Citibank’s bailouts: Since the program was enacted, Citigroup’s bank was one of just four bailed out by the Treasury, the other two being JP Morgan Chase and Wells Fargo.
But the Treasury’s bail out of Citigroup ended the most important bailout of Citibans’ lives.
The company lost about $17 trillion.
In total, the bailout allowed Citigroup to recover almost $10 trillion, or almost half of the total value of the bank.
Treasury officials had said the bank had “made significant progress” in recovering from the crisis, but critics have said that they were far from done.
The financial crisis: The crisis in the financial sector came as a surprise to many in 2008 and 2009.
But when it finally became clear that the financial industry was in trouble, the government took the first step by creating the Troublesome Asset Relief program to help the big banks and the banks were the ones who were in trouble.
The Treasury Department’s main goal was to help small and medium-sized banks, which had been the main borrowers of the Troubling Asset Relief funds.
But it also created a program called the Emergency Liquidity Guarantee Program to help smaller banks.
Treasury said that those small banks “could be more easily served by the Emergency Loan Program” — which it called the “liquidity guarantee program” — and that “the emergency lending could help them get off their feet.”
The bailout was designed primarily to help those small businesses, but the program also gave them more options and access to government financial relief.
In its initial bailouts, Citibanks and other companies were supposed the ability and the incentive to borrow money for their own accounts to fund their businesses and repay loans.
That’s because the government was paying banks to hold the money in their own bank accounts instead of lending it out to businesses.
When Citigroup needed to borrow more money to pay back loans, it had to borrow from a bank.
That was an arrangement called a “bond swap.”
Treasury didn’t have the ability or the incentive at the time to buy bonds from Citibanc, and instead relied on a series of bank-credit guarantees.
The banks got money for selling the bonds that Treasury bought.
The bond swap wasn’t a perfect system, but it was designed for a time when the financial system was relatively stable.
It allowed Treasury to keep the value the government paid for the bonds, which made the government more stable in the future.
In the aftermath of the financial crash, the economy grew, and some people said that bailed out banks and companies helped the economy recover.
But others criticized the government’s decision to help a large financial institution that had trouble doing its job.
The problem with bailouts is that they