• Is AIG officially the most despised company in America? Following the disclosure over the weekend that execs planned to go ahead with $165 million in bonuses to top execs comes word that a good deal of the billions in bailout money it received went to banks like Goldman Sachs ($12.9 billion), Merrill Lynch ($6.8 billion), and Bank of America ($5.2 billion). [BN, NYT, WSJ]
• Larry Summers: "There are a lot of terrible things that have happened in the last 18 months, but what's happened at AIG is the most outrageous." [BN]
• UBS plans to cut another 5,000 jobs. [Reuters]

• The Obama administration is expected to propose a new list of rules which will tighten restrictions on banks and financial institutions. [WSJ]
• Ben Bernanke in a rare interview on 60 Minutes: "We'll see the recession coming to an end probably this year." [DBK]
• Barclays is shopping its exchange-traded-funds business. [WSJ, BN]
• More disappointing losses for Wes Edens-led Fortress. [WSJ]
• The rise and fall of John Thain. [FT]
• President Obama will be appearing on The Tonight Show with Jay Leno "to talk about the economy." That should do wonders. [DB]
• What's former Bear CEO Jimmy Cayne up to? He's playing online bridge "up to six hours a day." What did you think he was doing? [NYP]