Such is the stature of Goldman Sachs that people regularly read all kinds of motives into its research. Its bearish report on real estate recently was thought by some to be mere covering fire for its short bets. Another twist: As noted by Fortune, a Goldman Sachs analyst has recommended that hedge fund clients short Washington Mutual. This after the bank had just had just earned millions of dollars from the $7 billion capital injection at WaMu. So at least the analyst did not feel pressured to aid the bankers. A sign of progress to be sure. It's doubtful, however, that more retail-oriented analysts would make such a call.  

For more:
- here's the Fortune article

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