The movement coalesced around the bank bailouts. There was growing dissatisfaction with the Bush neo-cons, more around economic policies then foreign invasions (I would characterize the Tea Party as confident in American power, but ambivalent to slightly negative on foreign invasions.) I imagine that those who identified with the Tea Party are now disgusted with the neo-cons, but I don't believe there was a clear (or at least well articulated) aversion to them at the beginning.

The original tea party was a Ron Paul (2007 pre Obama) movement. Unfortunalty it was co-opted by the Fox News tea party.

No, it was started because a Black Guy got into the White House. Don't fool yourself, the Tea Party is simply a racist reaction to non-White person being in the White House. Budget wise, Bush was much worse than Obama and there was no Tea Party telling him not to invade Iraq and blow 2 trillion dollars on pointless wars. The Tea Party only came about when Obama took office.