I found this by chance on CNN. It’s just plain scary to me. What do you think? Adam Troubled ASSET RELIEF PROGRAM Financial rescue plan aimed at restoring liquidity to the financial markets Program Committed Invested Description American International Group * See complete AIG bailout below $70 billion $69.8 billion $40 billion in preferred shares were converted to so-called non-cumulative shares that more closely resemble common stock. Treasury later offered another $30 billion in preferred shares for up to 5 years, in return for a 10% dividend. AIG: Where your money is going Asset Guarantee Program Citigroup Bank of America $12.5 billion $5 billion $7.5 billion $5 billion $5 billion $0 Funds set aside to backstop potential losses to government from Citigroup and Bank of America loans. Auto Supplier Support Program GM Supplier Receivables Chrysler Receivables $5 billion $3.5 billion $1.5 billion $5 billion $3.5 billion $1.5 billion Program to help stabilize ...

Monday March 2, 2009 Navivest

Struggling insurance giant AIG (AIG), today got a boost from the government, after the U.S. Treasury Department and the Federal Reserve Board today announced that the government will be restructuring its prior investments in the company, “in order to stabilize this systemically important company in a manner that best protects the US taxpayer.”

The restructuring plan is being done to enhance the company’s capital and liquidity position, so that AIG can continue with it’s global divestiture program.

Details of the restructing plan according to the Treasury include:

Preferred Equity The U.S. Treasury will exchange its existing $40 billion cumulative perpetual preferred shares for new preferred shares with revised terms that more closely resemble common equity and thus improve the quality of AIG’s equity and its financial leverage. The new terms will provide for non-cumulative dividends and limit AIG’s ability to redeem the preferred stock except

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