Bill Thomas, Vice Chairman and Former Ways & Means Chairman, is questioning Goldman’s David Lehman on the technical aspects of how GS prices assets. GS is maintaining that they price based purely on what the market says and don’t try to manipulate prices. Seems like Thomas is buying it.

Thomas then proceeds to implicitly suggest to AIG’s Forster that maybe they should have accepted Goldman’s markdowns… unclear where Thomas is trying to go with this.