Federal records say 177 well-connected (read politically-connected) firms participated in TALF.
For those investors, there was little risk w/ rewards guaranteed. The Federal Reserve (read taxpayers) funded as much as 90% of the investments.
If bonds were profitable, the borrowers benefited. If not, the department took over the depreciated assets with no repercussions for borrowers.
Then-Sen Joe Biden was a key advocate for the financial bailout, which was expanded under Obama.
Biden even delayed his Senate resignation in Jan 2009 to cast his final vote to increase funding for the Program before taking office as vice president.
Biden said about the banks and hedge funds aided by the government intervention. "Had we not bailed out the largest bank institutions in the world, there would have been a flat-out depression.”
COS Rahm assures Obama he's been there;
...... and all is good at the US Treasury.
"Mr President, you are now in complete control of the US Treasury."
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THE SMOKING GUN---WSJ REPORT--On Jan 20, 2009 Timothy Geithner was appointed Obama's Secy of the Treasury. But within three weeks, the Obama White House tightened its grip on Treasury. Obama put his COS, Rahm Emanuel, in charge of Treasury---Rahm Emanuel's dual role was an unusual move. When he got to Treasury, WH COS Rahm Emanuel was so involved in the inner workings that the phrase "Rahm wants it" had become an unofficial mantra among subservient govt staffers, prostrate in obeisance, scurrying to accede to Rahm's wishes, according to Treasury government officials. Reported by WSJ / 05/31/09
More here: http://online.wsj.com/article/SB124113406528875137.html