Shouldn't AIG be removed from the DOW immediately and if so what should go in its place and how would that effect Dow Futures...
The Dow is a price weighted (totally retarded to calculate an index this way) index. The higher the price of the stock (ie IBM) the more it moves the index. Dollar moves in AIG, GM and PFE don't move the index nearly as much as dollar moves in IBM, CVX or PG. You'd have to replace AIG with another financial. I say replace it with WFC, maybe even GS. If you really want the index to soar, replace it with a company that handles forclosures or bankruptcies.
My guess is an insurance company- maybe MET. But I'd like to see BRKA added. At 125,000 it would dominate the index
MET is a good choice. I didn't think of that one. I don't know about MS. Be kind of funny if they put it in and it went tits up.