peHUB First Read

 * Ritholtz fisks Rove on the housing meltdown.

* A coming Congressional report will severely fault the Treasury Department for a lack of TARP oversight. I’ve got no problems with where Congress is pointing its finger, so long as its got another finger pointing at itself. Given that Paulson’s original plan was just a three-page blank check, didn’t anyone on Capitol Hill know to attach more strings? The Barney Frank argument that Congress allocates and the executive executes is pure bunk.

* Everybody down on Morning Call, in preparation of the U.S. jobs report: U.S. futures, FTSE, rest of Europe, Nikkei and Hong Kong.

* John Doerr tells Congress about a stealth-mode battery startup that could revolutionize the auto industry.

* What are the chances of a depression? It depends on who you ask.

* It looks like Lehman Brothers Merchant Banking will be bought by its own management.

* What are Ron Burkle’s intentions toward Whole Foods?

* Can the Pre save Palm and, in the process, give Elevation Partners some of its stature back?

* Carl Icahn: Remove the exclusivity period from bankruptcy, and private investment will flow into banks.

* Peter Shiff sounds the Obama stimulus alarm. Isn’t it about time this guy starts blogging?

* The End of Wall Street, Part I