AIG payout.

Bank of America Corp. received $5.2 billion in payouts from the federal government’s bailout of American International Group Inc. Merrill Lynch & Co. Inc., which was recently acquired by BofA, got $6.8 billion.
Wachovia Corp. received $1.5 billion.
AIG disclosed Sunday the recipients of more than $90 billion it received in federal aid to honor its obligations for credit default swaps and other transactions.

The U.S. government seized control of AIG, providing it with an infusion of $ 170 billion in exchange for most of its stock.

Some of the banks receiving AIG relief separately got federal bailout funds under the Troubled Asset Relief Program.

Tracking the Dow on Friday,27/03/09

9:30am:--A hefty 100.0points gap down.

A dip in personal incomes and a slowdown in personal spending gave investors reason to cash in some of their winnings after the Dow Jones industrial average surged 21 percent over just 13 days.

10:30am:--No sign of gap-covering.

Technical rebound around the bottom.

11:30am:--Graveyard diji warning.

Obama and the bank executives discussed the administration's plan to stem the rise in home foreclosures, its proposal for tighter regulation of the financial industry, executive compensation and the financial bailout program, White House press secretary Robert Gibbs said.

12:30noon:--Dojis at near bottom high.

Failure to rebound at morning session.

1:30pm:--Descending soldiers.

Double-digit unemployment rates hit more states in February, with North Carolina and Rhode Island seeing their rates hit record highs.

2:30pm:--Hammering a downtrend.

A lawsuit filed on behalf of shareholders of American International Group Inc. is demanding company executives return millions of dollars in bonuses, dividends and other perks.
The lawsuit, which seeks class-action status, also seeks unspecified damages as well as the removal of AIG's top brass. It claims shareholders have lost $200 billion because of AIG's gross mismanagement and corporate waste over the past 8 1/2 years.

3:30pm:--Morning star seen.

Benchmark crude for May delivery dropped $1.96 to settle at $52.38 a barrel on the New York Mercantile Exchange.

4:00pm:--A half body bullish engulfing.

This can be translated into short-coverings avtivities towards the end of First quarter book closing.
Consumer spending up, but income sags on job cuts.
The Obama administration is likely to impose deeper concessions on Chrysler LLC and General Motors Corp. in exchange for additional federal loans, a person briefed on the government's plan said Friday.

Wednesday's candlestick upper shadow is in play and chances of lighting up again looks bright.