why Goldman Sachs avoid subprime loss

--short position in subprime securities a. Q3 2007, short positions (fina sold, not purchased yet, liab) 196 bil, compared to level 3 asset 72 bil. 177 bil Q2. 19 bil diff. b.Q3 07, cash adjustment in fina sold, not purchase yet is +39 bil vs 20.8 bil in Q2 07. 19 bil diff. --> it can be inferred that that the company sell short around 19 bil worth of securities in Q3 alone. vs peers LEH: --liability: fin sold, not purchaesd, liab in Q3 is 140.8 bil, vs 168 bil in Q2. --cash flow: fin sold, not purchaesd, in Q3 is 14.5 bil vs 42 bil in Q2 --> Lehman almost took not security shorting positions in Q3. MS --liability: Q3 176 bil vs Q2 166 bil -> 10 bil in Q3 --low exposure to CDOs a.retaiend interest in CDOs 1.773 bil at Q2 b.consolidated VIE assets in CDOs 37 bil, max loss 17 bil including 2.4 bil in retained interest c.nonconsolidated VIE assets in CDOs 32 bil at Q2, max loss is 14 bil including 1.7 bil in retained interest