Chinese Banks

Pete, we anticipate your arrival.
I've read two Jared Diamond books: Guns, Germs, and Steel and The Third Chimpanzee. I don't know if I want to summarize GGS for you. I will summarize the 3rd Chimp book later. But for now, more important affairs:

Feeding frenzy for overseas banks
Foreign investments into Chinese commercial banks, which began just a few years ago, have accelerated to a frantic pace in recent months, with record-shattering deals being announced seemingly almost weekly. Three of the four big state-owned commercial banks (SOCBs) that acquired foreign funding - Bank of China (BOC), China Construction Bank (CCB), and the Industrial and Commercial Bank of China (ICBC) - have received the most attention from the media, as each is preparing for a listing on overseas stock exchanges within the next two years. Bank of America (BoA), UBS, Merrill Lynch, Goldman Sachs and the Royal Bank of Scotland (RBS) are just a few of the major foreign financial institutions that joined the bidding race. Considering the fact that the three SOCBs collectively have 900 billion yuan (US$111 billion) of non-performing loans (NPLs) on their balance sheets, why would BoA or RBS spend north of $3 billion for just a 10% non-controlling equity stake in a Chinese bank? There is no simple answer to this question.

You down with GOP?

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Statement by Senate Majority Leader Bill Frist
Senate Majority Leader Bill Frist is facing questions from the Justice Department and the Securities and Exchange Commission about his sale of stock in his family's hospital company one month before its price fell sharply.

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Jack is a republican lobbyist.