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Tuesday, February 24, 2009


AIG Seeks to Ease Bailout Terms
AIG is seeking an overhaul of its $150 billion bailout package as it gets set to report a quarterly loss that will likely top $60 billion.

J.P. Morgan Cuts Dividend 87%
J.P. Morgan Chase slashed its quarterly dividend, a surprise move aimed at beefing up the bank's capital cushion.

Little Chance of Talking Up Market
Financial markets have clung to every word from policy makers throughout the raging financial crisis, with poor results.

Pressure builds for additional billions in bailout money
The U.S. government is confronted with increasing demands for billions of dollars in additional bailout money as recipients -- mammoth insurer American International Group, some of the nation's biggest banks and two of the Detroit Three automakers -- appear to be sliding toward collapse. Even the government's ability to raise cash is being stretched, but policymakers are worried about the chain reaction that could follow the failure of a huge corporation. The New York Times (23 Feb.)

Citi battles rivals over shackling its operations
Rivals of Citigroup urged the U.S. government to limit the bank's international operations and investment-banking activities if the government takes a substantial stake in or nationalizes the company. Citi insiders said the lobbying is spurred by self-serving desires from competitors and should not be considered. The prospect of nationalizing one of the largest banks in the world has revived questions and concerns about the how that would affect the overall financial sector. Financial Times (24 Feb.)

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