Tuesday, February 24, 2009

AIG and Market Discussion

by Bill McBride on 2/24/2009 12:11:00 AM

From the WSJ: AIG Seeks to Ease Its Bailout Terms

American International Group Inc. is seeking an overhaul of its $150 billion government bailout package ... Under the plan, the government loan of up to $60 billion at the heart of the bailout would be repaid with a combination of debt, equity, cash and operating businesses, such as stakes in AIG's lucrative Asian life-insurance arms. AIG and the government have been discussing the changes since December and plan to announce them by Monday when the insurer is expected to report fourth-quarter results, the people said.

The earnings report is expected to underscore AIG's worsening condition with its total loss for the quarter likely to top $60 billion...
It looks another Sunday announcement coming up. No new info on Citi yet.

Here are the Bloomberg Futures. Futures are basically flat so far.

Barchart.com (active contract has a time, not a date)

CBOT mini-sized Dow

And the Asian markets. Not bad so far.