Opening Bell [Dealbreaker]
AIG starts makeover, changes sign at NY office [Reuters]

• Tim Geithner has unveiled his latest plan to deal with the financial crisis. This one involves a partnership between the government and private investors, and could eventually involve buying up to $1 trillion in toxic assets from banks, although it isn't generating unanimous support. "It fills me with a sense of despair," says the Times's Paul Krugman. [WSJ, NYT, BN, NYT]
• New documents over the weekend indicate AIG paid out $218 million in bonuses, more than the previously disclosed $165 million. [Reuters]
• Here's another way to look at the AIG mess: If those bonuses hadn't been paid, the U.S. government may have had $1.7 trillion to worry about. [NYP]
• That trip to AIG on Saturday? Lots of reporters, many fewer protesters. [AP]
• Obama reiterated his support for Geithner on 60 Minutes. [Dealbreaker]

• Yesterday the House approved a 90% tax on bonuses paid to execs at certain firms that received government aid. Now some lawmakers are talking about banning all bonus payments at bailed-out firms. [Reuters]
• It's unclear if the 90% tax will hold up in court. It's also possible it will do more harm than good and ultimately "wreck what's left of our economy." [BI]
• Andrew Cuomo says AIG has provided him with a list of employees who earned bonuses, but he won't release the names until the security situation has been sorted out, which is good news since it's getting a little rough out there what with all the death threats and protests. [AP, NYT, Reuters]
• Just who knew about the AIG bonuses—and when they knew it—is being closely scrutinized, although Treasury Secretary Tim Geithner says he is prepared to accept full responsibility. [NYT, CNN]

They thought they were safe in their Connecticut palaces, but oh no: top AIG execs face death threats, angry neighbors in their driveways and tabloid photographers. Then there's the roving band of irate poors.

Got nothing exciting on the agenda this weekend? A group called Connecticut Working Families is organizing a "field trip" to visit the homes of AIG execs tomorrow. If you can't attend the oh-so-exciting tour of Fairfield in person, you can always join their "AIG Cribs" Facebook group: 43 members and counting! [AIG Bus Trip]

Prostitute-hiring former New York governor Eliot Spitzer is back in front of the TV cameras, talking about AIG! Good thing, because we need experts on the violation of financial laws. Watch him explain his "contribution."

New York Attorney General Andrew Cuomo has a secret! AIG has given him a list of employees who received controversial bonuses after the insurer's continued bailouts — but he won't name names.

Did someone hack into Chris Dodd's Senate web site this afternoon?

The House just passed a bill to return most of the ill-gotten AIG bonus money to taxpayers. But the most guilty villains are in London, immune from our silly laws, laughing at us.

An AIG corporate security memo, leaked to Gawker, advises employees on how not to fall victim to the populist horde calling for their heads. Click to see it in full.

Not much more than a year ago, Chris Dodd thought he could be president. Today, he might lose his Senate seat because he's up to his ears in AIG and lied about it.

And you thought Washington was constitutionally unable to get anything done in a hurry. The House passed legislation this afternoon to recoup most of the $165 million in bonuses paid out to employees of AIG. The bill applies a 90 percent tax on bonuses given to executives who earn more than $250,000 and who work for companies that have received at least $5 billion in government aid.

Just think of all the wonderful things that could have been purchased with the $165 million that AIG spent on employee bonuses instead. For starters: 4,538 elementary school teacher salaries; 8,250,000 pills of Ecstasy; 4,364 free rides to a state school; and 471,428 one-way tickets to China. [Jossip]

• Andrew Cuomo has won the battle to force Bank of America to turn over the names of the 200 Merrill employees who earned the largest bonuses right before the firm was acquired. He says he'll release the info today. [CNN, NYT]
• As you can probably imagine, it's been "the worst week in a string of bad weeks" for Treasury Secretary Tim Geithner. [NYT]
• Of course, it's also been a pretty lousy few days for AIG chief Ed Liddy, who walked into this big mess when he took the top job last September. [NYT]
• A record number of hedge funds were forced to close up shop last year: About 1,471 hedge funds were liquidated in 2008. [NYP, DB]
• The Fed plans to buy $300 billion of long-term Treasuries and hundreds of billions of dollars more in mortgage-backed securities. [BN, WSJ]
• JPMorgan reports the bank's CEO, Jamie Dimon, earned about $19.7 million in total compensation for 2008. And how did you do last year? [Reuters]
• Citigroup has canceled its order to buy three new jets. [Dealbreaker]

In a complete reversal, Sen. Chris Dodd admitted he inserted language into the stimulus bill allowing $165 million in bonuses to those AIG executives. But the President made him do it!

Man, it turns out that if you say "credit default swaps" over and over again it sounds really really funny. Also, everything Gary Ackerman says is kinda funny too.

The New Depression rolls on and those overpaid AIG failures are this week's target for populist wrath. But do you hate them more than last week's villains? Embrace your hate and vote in our poll.

Earlier today at the Rayburn House Office building, a "mob of reporters" surrounded this man and began peppering him with questions, thinking he was this guy.

Can we interest you in an office building in the financial district? The most despised company in America, AIG, is now looking to unload its 66-story Art Deco tower at 70 Pine Street and has tapped star commercial broker Darcy Stacom to handle the deal. Unfortunately, the building isn't expected to go for much more than $100 million, a far cry from what the company could have made a few months ago when it was worth $300 million or more. Presumably the price will continue to drop as time passes (and the company has to figure out how to pay for the next round of employee bonuses). In the meantime, you could always pick up 70 Pine at a real bargain and go for a pewter version for $150. [NYP]

A little progress has been made in Washington, believe it or not! In case you haven't spent the last four hours watching testimony in front of the Congressional committee looking into the AIG mess, you may be happy to hear that the insurance company's CEO, Ed Liddy, says he's asked the AIG employees who collected big bonuses to give half the money back. Okay, so it means we're only 50 percent of the way closer to a solution to this saga. But Liddy says that some employees have already agreed to the arrangement. And some really generous ones have even offered to give up all the cash!