peHUB First Read

* James Bennet of the Atlantic suggests that Mitt Romney should run General Motors. Bennet's colleague Derek Thompson likes the idea, but says it's never going to happen. * Bank of America and Wells Fargo get sued by buyers of debt that helped finance Lightstone Capital's 2007 purchase of the Extended Stay hotel chain from The Blackstone Group. The plaintiffs accuse the banks of colluding on a “Machiavellian scheme” to take control of the properties just in time for the busy summer travel season. * Ryan Avent: The tyranny of cost-benefit analysis (and of economists in general) * Morning Call: U.S. futures signal rebound, London rises early, European shares advance ahead of BoE and ECB decisions, the Nikkei slips on ships and Hong Kong shares fall. * Richard Fields: "It's always a good time to invest in litigation." * Job offers drop for MIT Sloan graduates. Speaking of which, Ritholtz has a graph comparing job openings to the number of unemployed.