"Up the trees quick!" cried Gandalf; and they ran to the trees at the edge of the glade, hunting for those that had branches fairly low, or were slender enough to swarm up. (...)

But even the wild Wargs (for so the evil wolves over the Edge of the Wild were named) cannot climb trees. (...)

This glade in the ring of trees was evidently a meeting-place of the wolves. (...) [They guarded all the trees with anyone on it], while all the rest (hundreds and hundreds it seemed) went and sat in a great circle in the glade; and in the middle of the circle was a great grey wolf. He spoke to them in the dreadful language of the Wargs. Gandalf understood it. (...)

The Wargs and the goblins often helped one another in wicked deeds. (...) Then they often got the Wargs to help and shared the plunder with them. Sometimes they rode on wolves like men do on horses. Now it seemed that a great goblin-raid had been planned for that very night. The Wargs had come to meet the goblins and the goblins were late. The reason, no doubt, was the death of the Great Goblin, and all the excitement caused by the dwarves and Bilbo and the wizard, for whom they were probably still hunting.

(...) All the same [Gandalf] was not going to let them have it all their own way, though he could not do very much stuck up in a tall tree with wolves all round on the ground below. He gathered the huge pinecones from the branches of his tree. Then he set one alight with bright blue fire, and threw it whizzing down among the circle of the wolves. (...)

"What's all this uproar in the forest tonight?" said the Lord of the Eagles. (...) He swept up into the air, and immediately two of his guards from the rocks at either hand leaped up to follow him. (...)

A very good thing too! Dreadful things had been going on down there. The wolves that had caught fire and fled into the forest had set it alight in several places. (...) Then suddenly goblins came running up yelling. They thought a battle with the woodmen was going on; but they goon learned what had really happened. Some of them actually sat down and laughed.

(...) Back swept the great birds that were with him, and down they came like huge black shadows. The wolves yammered and gnashed their teeth; the goblins yelled and stamped with rage, and flung their heavy spears in the air in vain. Over them swooped the eagles; the dark rush of their beating wings smote them to the floor or drove them far away; their talons tore at goblin faces. Other birds flew to the tree-tops and seized the dwarves, who were scrambling up now as far as ever they dared to go.

J.R.R. Tolkien The Hobbit

Goblins still seem to dread this story, and paint graffittis of it! You will surely stumble upon a few while visiting Gobo Town.
Now, just one question... Where would the woodsmen that were planned to fall victims of the goblins + wolves raid live? Are those Hillmen and Angmarim that dwarves, Bilbo and Gandalf saved by chance? No other men anywhere near Goblin Town in LotRO!