After captain Lloyd and wingman Fab batted off criticisms from Senators on Tuesday, apparently the word on the Street is… ‘hide’.

WSJ: According to employees, Goldman managers have urged them to keep a low profile, think carefully about the restaurants and parties they attend and watch how they behave in public. Some employees are even reluctant even to go out to lunch with co-workers for fear of being overheard talking about Goldman, said one person familiar with the matter.

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Fortunately for Goldman employees there’s nothing in the firm’s code of conduct that says they have to wear plastic badges emblazoned with their names, position and number of stars awarded for performance.

But unfortunately for Goldman employees, the bad news keeps on coming with the WSJ also reporting that the firm is under criminal investigation for possible securities fraud related to its mortgage trading. The investigation, led by the Manhattan US Attorney’s office, is at a preliminary stage and stems from the SEC’s civil law suit regarding Goldman and its Abacus CDO, says the WSJ. Such probes are supposedly common when civil proceedings have been launched but they do not mean charges will always follow. Fingers crossed.

Little comfort perhaps but you have to take it where you can… Goldman employees might receive some small grains of support from billionaire shareholder Buffett – due to comment on his investment in GS at Berkshire Hathaway’s AGM this weekend. It is understood that he is likely to agree with his business partner Charlie Munger who believes although Goldman did nothing illegal, the firm was engaged in “socially undesirable” activities, he said in an interview after the SEC lawsuit was filed.

BI: “They were very competitive in maximizing profits in a competitive industry that was permitted to operate like a gambling casino,” Mr. Munger said. “The whole damn industry lost its moral moorings.”

The comforting bit, you ask…

He added that he believes Goldman is “more prudent and ethical” than other big Wall Street banks.