peHUB First Read

Cofee* Joe Weisenthal: Will CIT become Obama’s Lehman Brothers? In related a question, will those who derisively said Obama would “keep digging” (like this one), now laud Obama for letting CIT fall?

* Jonathan Weil: CIT’s capital was all talk, no trousers.

* Morning Call: U.S. futures rise on JPMorgan results, London falls early, European shares extend gains, the Nikkei gains 0.8% and Hong Kong rises 0.6%.

* Best. VC. Homepage. Ever.

* Carlyle Group execs in the WSJ: Let private equity help banks.

* A list of the 25 top econoblogs.

* Testimony from Flywheel Ventures’ Trevor Loy (.pdf), on behalf of the NVCA at yesterday’s Senate subcommittee hearing on proposed rules that would require all VC, PE and hedge funds to register as investment advisors. Not surprisingly, he was less enthusiastic than the folks over at Private Equity Council.

* Now you too can have IOUs from California, via the secondary market.

* Is there really a recovery in the works? Time to check with Google.

* A judge dismisses Donald Trump’s lawsuit against the NY Times. Apparently bruised ego is not a cause for legal action.

* If you can’t beat ’em, join ’em: Facebook may be working on Twitter integration.

* Krugman on Colbert:

The Colbert Report Mon – Thurs 11:30pm / 10:30c
Paul Krugman
Colbert Report Full Episodes Political Humor Jeff Goldblum