AIG near deal on new terms of U.S. bailout: source (Reuters)

Reuters - American International Group Inc is close to a deal with the U.S. government that would ease the terms of its bailout, provide a further equity commitment and help it pay down debt, a person familiar with the matter said on Saturday.

AIG talks weigh securitizing life policies: source (Reuters)

Reuters - American International Group Inc may securitize some U.S. life insurance policies and have the interest rate on a government loan lowered, as talks continue to help the insurer deal with its financial problems, a source familiar with the matter said on Friday.

Retirement: Test your financial planning IQ (AP)

AP - The formula for a financially successful retirement used to be straightforward: Work for decades for one employer and then live happily ever after on the pension, Social Security and whatever personal savings you were able to amass.

Replace your income completely and retire early, wealthy & happy

http://www.tradingedge.com.au David reveals how he went from welfare to millionaire and how you can do the same even if you are working a minimum ...

Fannie Mae posts huge 2008 loss, seeks new bailout (AFP)

AFP - Troubled US mortgage finance giant Fannie Mae said Thursday it lost almost 60 billion dollars last year and expected to suffer more losses in 2009, and asked for a further 15.2 billion dollars in government aid.

Fannie Mae seeks $15.2B in US aid after 4Q loss (AP)

AP - Fannie Mae said Thursday it needs $15.2 billion in government aid — though that figure is expected to grow — because it lost nearly $59 billion last year as the foreclosure crisis mushroomed.

HUD secretary, Congress debate foreclosure plans (AP)

AP - Against a backdrop of record-low new home sales and ballooning losses from foreclosures, Housing Secretary Shaun Donovan told lawmakers Thursday that the lending industry is set to launch the Obama administration's $75 billion foreclosure prevention program next week.

Some mutual fund managers feel your pain (AP)

AP - Jeff Auxier plowed all his retirement savings into Auxier Focus Fund when he launched it nearly a decade ago. He also vowed to never sell any of his initial $1 million investment.

JPMorgan now cutting up to 14,000 jobs (Reuters)

Reuters - JPMorgan Chase & Co said it is cutting up to 14,000 jobs, more than previously disclosed, as it tries to reduce costs in the face of a slumping economy and higher credit losses.

House likely to delay mortgage aid vote: sources (Reuters)

Reuters - Democratic leaders of the U.S. House of Representatives are likely to postpone a planned Thursday vote on a controversial measure that would let bankruptcy judges reduce mortgage debt for troubled borrowers, said sources familiar with the legislation.

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