peHUB First Read

* James Pethokoukis: Bill Clinton for Fed chairman.

* David Margolick: What did Madoff’s sons know?

* Paul Kedrosky: The case for California defaulting, even if it won’t.

* A group of E Ink shareholders may try to block the company’s $215 million sale to Prime View International.

* Morning Call: U.S. futures point higher, London slides, European stocks hit 3-week low, the Nikkei edges up and Hong Kong drops.

* Goldman Sachs regrets that it “participated in market euphoria.”

* 3i Group’s annual report says that senior executives will not receive bonuses or raises this year.

* European CEOs do not believe a recovery has begun.

* Moore’s Law to die at 18nm.

* Michael Lewis on the end of Wall Street, and the people who saw it coming: