by Calculated Risk on 6/15/2008 01:53:00 PM

From the WSJ: AIG Chief Expected to Step Down

The board of American International Group Inc. is meeting today to accept the possible resignation of Chief Executive Martin Sullivan ...

At the heart of AIG's current problems are the record-setting, multi-billion losses AIG has recorded in the last two quarters ...

Another Sunday board meeting. These are never good news.

Update: CNBC is reporting Lehman is meeting this weekend too:

Senior executives at Lehman Brothers, the embattled Wall Street securities firm, have been summoned this weekend for a series of meetings as the firm prepares to release second-quarter earnings on Monday and speculation swirls that the firm may be sold to a larger bank, CNBC has learned.