Goldman Sachs the un-fall-able?

One would have thought the issue of whether US bailout saved Goldman Sachs from collapse had long been answered in the affirmative. But no, the official position at that august Wall Street firm is still Nyet. Nein. Non. No.

..." Gerry Corrigan, a senior executive at Goldman and former head of the New York Fed, suggested that Goldman Sachs has an impeccable approach to risk management and seemed to imply that the firm was not in trouble in fall 2008. When pressed on why Goldman requested and was granted a banking license – and access to the Fed’s discount window – in September 2008, he fell back slightly, “There is no question whatsoever that when you look at totality of the steps that were taken by central banks and government, particularly in 2008, that Goldman Sachs was a beneficiary of this"...

Why is this so hard for Goldman to admit?"...wrote Simon Johnson at MIT, former chief economist at the IMF.

Good question.

Source: http://baselinescenario.com/2010/02/05/goldman-sachs-and-the-republicans-2/