peHUB First Read

* The rise, and fall, of Hank Morris * Kurt Anderson: America hits the reset button * Morning Call: U.S. futures point lower, London falls early, European shares decline, the Nikkei's rally is snapped and Hong Kong rises. * Most adults still don't know what Twitter is * Matthew Goldstein: Let's hope Mary Shapiro is a better regulator than money manager, given the lousy investment performance at FINRA (which she previously ran). * Fortune argues that PE dealmaking will remain sluggish because of existing portfolio management requirements (major bubble activity+few exits=mucho manhours). I certainly agree that portfolio management is taking up more time than ever, but slow investment volume is still primarily a byproduct of credit (un)availability and bid/ask spreads. If there was leverage and mutually-amenable pricing, PE firms would find the extra time to get new deals done.