Goldman Sachs CFO David Viniar is sticking to his guns, making clear that Goldman Sachs does not see the $2 billion it is injecting into the Global Equity Opportunities hedge fund as a bailout. Not everyone believes him. And you can see why. He addressed this on a conference call. But according to the Market Movers blog at Portfolio.com, there is one reason why it should look good to outside investors: The 20 percent performance fee may not kick in until the fund is back to even. So if you are allowed in now, when the fund is really down, say 15 percent, it has to rise more than 15 percent to get back to even. The thought is that investors will not pay performance until that happens. So it could be a really good deal. Of course, that assumes that the fund turns itself around. And that is hardly a given right now.