Liveblog: Why was GS so inept at pricing?

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After Thomas is done questioning, Angelides interjects and is incredulous that Goldman Sachs had a "scientific" methodology of pricing that was based on the market alone.

He points out that GS’ first pricing of one of AIG’s assets was $1.8 million, which only days later turned into $1.2 million, which itself was 400% higher than what GS ultimately settled for. And all throughout, GS’ pricing diverged from other peers.

Angelides ends by asking a rhetorical question as to why GS could be so profit aggressive, especially at the beginning, and claim they price only on the market.

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