Updates throughout the day.

AIG (AIG) has developed a new system for paying management bonuses  (NYT)

“While banks like JPMorgan and Goldman Sachs have enough liquidity to consider raising dividends or buying back stock, regulators have told U.S. banks to preserve their cash for the moment” (FT)

Citigroup (C) is selling preferred trust shares to raise as much as $2 billion (Bloomberg)

Chinese auto company Geely has raised the money necessary to buy Volvo (Dagens Industri)

Douglas A. McIntyre