Links: 2009-06-29

Unfortunately I was out this weekend and did not post the 5 bank seizures by the FDIC on Friday.  They are below in the links.

• China’s banks are an accident waiting to happen to every one of us – Ambrose Pritchard-Evans, Telegraph

  "Fitch Ratings has been warning for some time that China’s lenders are wading into dangerous water…Future losses on stimulus could turn out to be larger than expected, and it is unclear what share the central and/or local governments ultimately will be willing or able to bear"

• Jackson Tops U.K. Album Chart, Has 43 Entries in Singles List – Bloomberg

  I bought "The Essential Michael Jackson," one of his 5 albums now in the top 20 on the UK charts.

• FDIC: Failed Bank Information – Bank Closing Information for Mirae Bank, Los Angeles

  Failed Bank 45

• FDIC: Failed Bank Information – Bank Closing Information for MetroPacific Bank, Irvine, California

  Failed Bank 44

• FDIC: Failed Bank Information – Bank Closing Information for Horizon Bank, Pine City, Minnesota

  Failed Bank 43

• FDIC: Failed Bank Information – Bank Closing Information for Neighborhood Community Bank, Newnan, Georgia

  Failed Bank 42

• FDIC: Failed Bank Information – Bank Closing Information for Community Bank of West Georgia, Villa Rica, Georgia

  Failed Bank 41

• PNC Isn’t in a Hurry to Repay TARP Investment – WSJ

  "…PNC shareholders are unlikely to face the heavy dilution that other bank investors have faced recently. Many firms re-paying TARP have raised the necessary cash in part by issuing new shares, which dilutes current investors."

• Valero Harnesses Wind Energy to Fuel Its Oil-Refining Process – WSJ

  "Valero Energy Corp., which has the capacity to process more crude than any other U.S. refiner, recently installed 33 windmills to supply a refinery here with green electricity to produce gasoline and diesel."

Distraction of the day: Technologic Overkill – The first music video shot on an iPhone

Being the technophile that I am, I thought this was interesting because it was shot entirely on an iPhone 3GS.  Pretty cool.