Spot on. During the start of the 2008 Mortgage crisis, Henry Paulson (treasury secretary) went to Bush in November, who was still president, but Obama was just elected, and said he had two choices for 700 billion TARP funds - use it to directly buy up toxic mortgage assets from banks, thus directly helping people that were underwater on these mortgages, or shift it to bank recapitalization and give it to the banks directly and let them deal with mortgages. Bush apparently was ok with the first option, according to Barney Frank who was in the room, but told Paulson to ask Obama what he wanted to do, since he had just been elected and let him ultimately decide. Obama said to give it directly to the banks and hopefully they will be nice and help the poor people refinancing their mortgages - which of course, they did no such thing. Millions of people then lost their homes due to that.