Goldman is getting the best of the credit crisis

Marketwatch reports:

During all of this, Goldman Chief Executive Lloyd Blankfein was in the middle of talks about the future of another crippled company, American International Group Inc.
(AIG) , at the New York Federal Reserve. As Gretchen Morgenson reported in the New York Times last week, those talks resulted in an $85 billion bailout of AIG via a government loan, and, oh yeah, the deal may have saved Goldman $20 billion in losses due to its trading position with the insurer."
Goldman poured cold water on that claim saying in a statement it "had no material exposure to AIG.
"Our counterparty risk was offset by collateral and hedges, and that remains the case."