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.