peHUB First Read

LBO Loans Rise: PE firms are borrowing the most in Europe since Lehman’s collapse froze the debt markets.

Telling The Truth: Five myths about Facebook.

An Exit: AIG and U.S. government move closer to a deal allowing Treasury to exit its investment in the insurer.

More AngelGate: Chris Sacca responds to Ron Conway.

Rupert’s Demise: Three truths about the media’s future including the end of Rupert Murdoch.

Another Patent: Apple gets a patent for handheld that recognizes your hand.

Disappointment: Rattner tells Reuters Insider that he’s upset with Quadrangle’s comments about him.

Silicon Valley’s Change: The Valley used to be a place run by scientists and engineers but now has become a casino, a place where smart kids arrive hoping to make an easy fortune, according to Newsweek.

Different Firms: Goldman goes where Morgan no longer dares to trade.

Taking Over Libraries: A PE-backed company is running libraries in California, Oregon, Tennessee and Texas.

Intentional Flash Crash: Chicago firm finds strange patterns to May 6 flash crash that show one or more firms may have intentionally tried to flood exchanges with orders.

Not a Recovery: The recession isn’t over, the public says.