Let's start with a disclaimer.  Actually many disclaimers, sort of a Goldman therapy session. I own a little stock in Goldman and a few shares of funds managed by Goldman.  I normally root for the underdog and against teams like the Yankees, and Goldman.   I think stories are more interesting when they have a villain. I am irritated by most general interest media stories on financial topics, especially first day stories, because in the drive to produce an elegant, black and white story â they just get it horribly wrong.
In 2007, John Paulson (now a gazillionaire hedge fund rock star, back then, just...