Could someone tell me some backround info on who the Squadron Supreme and The Thunderbolts are?

there are several good articles on Metagame that give detailed background on both teams. Go give em a read!

Thank you!:classic:

Kergillian's the man with the storytelling plan: The Breakdowns of Many VS Teams.

Squadron is just Marvel's JLA.

Short answer.

Squadron Supreme were Marvel wannabe copies of the Justice League. Nighthawk=Batman, Hyperion = Superman, Power Princess = Wonderwoman.... etc, etc

Thunderbolts are the Masters of Evil disguised as good guys. The best way to be bad is to gain the trust of everyone by pretending to be good. (Eventually they became good for real though)