peHUB First Read

* All eyes today on AIG, which last night was downgraded by S&P and Moody's. Well, plus there's that Fed meeting and word that Barclays has hopped back into the Lehman hunt. Could you have imagined a week ago that Merrill Lynch would agree to be bought, and it would be considered a relatively small story? * Joe Nocera: What we've got here is a problem of denial. * Dennis Berman: Where was Lehman's board? * Roger Eherenberg: Investment Banking 2.0. * Damn, it does not feel good to be a banker. * VC-backed bust: Wallop, a social networker that had raised around $10 million from