peHUB First Read

* Bill Gross calls for a massive government bailout: “Systematic debt liquidation is what confronts the U.S. and perhaps even the global financial system at the current time. Unchecked, it can turn a campfire into a forest fire, a mild asset bear market into a destructive financial tsunami.”

* Informa rejects decreased buyout offer.

* VC-backed Spectrum Bridge is trying to create a Web-based secondary market for radio spectrum. Similar efforts have failed in the past, but WSJ suggests that this one may just have enough volume to get the job done.

* Some small book publishers finally go online.

* VCs back tools to look inside the cloud (Stacey’s talking cloud computing here, not meteorology).

* What Web journalists can learn from the funny pages.
* Be it resolved: No one knows anything.

* Hedge fund Atticus Capital: We’re not dead yet.

* Arthur Levitt keeps himself busy.

* Wallstrip on The Home Depot:

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