Section 101 (e) PREVENTING UNJECT ENRICHMENT -- In making purchases under the authority of this Act, the Secretary shall take such steps as may be necessary to prevent un-ject enrichment of financial institutions participating in a program established under this section, including by preventing the sale of a troubled asset to the Secretary at a higher price than what the seller paid to purchase the asset. The subsection does not apply to troubled assets acquired in a merger or acquisition, or a purchase of assets from a financial institution in conservatorship or receivership, or that has initiated bankruptcy proceedings under title 11, United States Code.

The last line; yes, read it again. Those institutions that Paulson, the majority of the fed / treasury historicaly come out of, the "shadow banks" that have taken over the companies with the biggest exposure (Lehman, Baer, Wamu, Wacho, etc) will be able to sell their assets for as high as they want. Whereas everyone else pretty much has to grin, sell at high prices, take the losses...

Who survives? Paulson's friends and all the come out as among the only insitutions left.