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There were those, possibly including Tyler Durden, who complained loudly last September that Paulson was proposing a scheme in which the Fed and Treasury would pick winners and losers in the market. Paulson was the former CEO of GS. Surprise! GS is a BIG winner. Given that, it hardly would be surprising that the Fed and Treasury knew that this is what GS would do with the SLP provision and thought it was a good thing.
From their point of view strengthening GS IS strengthening the economy. THAT POINT OF VIEW IS THE REAL PROBLEM. They just didn't think that this whole arrangement would be exposed so publicly. And it is still not too bad. Most of the MSM is still ignoring it. This could be related to the fact that only GS has taken advantage of the incredibly lucrative opportunity provided by the SLP program, through intimidation, IMO. Only one SLP provider at a time would be readily able to combine the fraction of a penny incentive for "market making" with the monitoring and proprietary desk trading as GS has done and GS has the mojo with Treasury.
As the saying goes "THERE CAN BE ONLY ONE!" The others don't want to volunteer to have their heads cut off in a failed challenge. Neither do the heads of most financially troubled MSM organizations. "It is not necessary to have hope in order to persevere."
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