peHUB First Read

* How to extend a TARP? Convert the bank bailout loans into common equity. * Gabriel Sherman: The rage of the privileged top 1% as it loses its privileges. * Morning Call: U.S. futures point lower, London flat in early trading, European shares fall on banks and miners, the Nikkei edges up on steel and Hong Kong keeps rising. * Silicon Valley's unemployment rate hits 11 percent. * The psychology of pricing in mergers and acquisitions: "In particular, offer prices are highly influenced by the target's 52-week high stock price. This price probably serves as a psychological anchor-a starting point from which actual bid prices do not sufficiently adjust to reflect only current information." * Don Dodge: Is Twitter a case of macromyopia? In barely-related news, Boston Marathoners are tweeting from the starting lines. * Nichola Groom: Recession is slowing water investment to a drip.