"This is not a rescue." So said Goldman Sachs CFO David Viniar about the $3 billion infusion into its Global Equity Opportunities fund. It's hard to believe such words. But the fact that Goldman was able to find some investors, notable Eli Broad and Hank Greenberg suggests that there may be some value there. Then again, Goldman may have called in a few chits. Goldman itself will kick in $2 billion of the total. Still, if things were going great, the "investment" would not be necessary. You have to wonder what this means for other hedge funds, especially those without the deep-pocketed parents. You get the feeling that the pain is really just beginning for many. No one would be surprised if similar "investments" were announced for two other Goldman funds, including Global Alpha. Stay tuned.  

For more:
- here's an update
- Goldman plans on buying cheap debt. Article
- More rumors about Goldman Sachs redemptions. Article