It's tempting to interpret the Vanity Fair article on Goldman Sachs (GS) as more media piling on. But the fact is it may actually be doing the firm some good. For one thing, it passed on the now obligatory Vampire Squid reference. For another thing, it may have humanized the firm a bit, noting how employees are so anguished at their low public image and how CEO Lloyd Blankfein rose from humble roots in the South Bronx.

But it also takes a look at the AIG bailout issues and seems to agree with the many Goldman Sachs critics who think the bank benefited greatly. It also notes that some of the securities that Goldman bought insurance on were actually issued by Goldman itself. For what it's worth, the firm also thinks that issuing FDIC guaranteed debt was a huge mistake. Perhaps because it helped fuel the public backlash. None of this is all that new, but the treatment is quite interesting. 

For more:
- here's the article

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