The 'reason' they did it is that the parasites at the top of the system got caught 'spending' money that wasn't real.
Now, Not-for-profits and the elderly set in Florida are being thrown under the bus.
The big political and Media investors got their money out of the first bailout. That's why you will not be told 'where' your money went.
I believe you are precisely correct, although I recently posted a pie-in-the-sky tin-foiler HERE.