The only reason GS is still around is because they did what they did. They protected their shareholders the fine is trivial (less than 10%) compared to the losses they would have taken if they followed the course of action that everyone else did.

A $13b bailout on suspiciously favorable terms had something to do with it, also.

What is suspiciously favorable about it? the terms were uniform. The real kick back to all banks was the unwind of AIG.

Yep and? Every IB had to secure a deal GS got money from Berkshire Hathaway, everyone else got acquired Lehman could not secure a deal. Unlike in every other deal government was not providing downside guarantees for Berkshire Hathaway investment in GS. Government did provide huge guarantees to JPM and every other bank that acquired an IB.

Absolutely right! Its usually context specific.