peHUB First Read

* Daniel Gross: Why all those Great Depression analogies are wrong. * Europeans may have been nationalizing for longer, but we sure do it faster. Citi last night got $20 billion in new capital and has government backing for $306 billion worth of commercial and residential mortages. Here are the actual agreement terms. Blodget reax. * Speaking of buying up bad mortgages, John Paulson has entered the arena. * Morning call: U.S. futures rise on Citigroup bailout news, European shares surge for the same reason and Hong Kong is more concerned with HSBC. * Kara Swisher reports that Facebook recently tried to buy Twitter for $500 million.