GS Associate hiring ..? (IB noob)

I don't know a whole lot about the IB world ... been working at a hedge fund past two years after undergrad.

I noticed on Goldman's website they seem to imply that at the Associate level they're looking to hire not only MBAs but also people with 2yrs+ experience. Is this true? Might I be eligible or are they only looking for people with prior IB experience? (I'd be looking to join one of their principal/proprietary/hedge fund groups.) Do they hire off schedule or only academic calendar? Would this be a horrible idea bc of TARP?

Appreciate any insights...

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