peHUB First Read

Cofee* Bain Capital’s Steve Pagliuca is strongly considering a bid to succeed Ted Kennedy. Pagliuca is a Democrat, as evidenced by the fact that he was one of the only Bain bigs who didn’t donate to Mitt Romney’s presidential campaign. That also means he actually has a chance to win in Massachusetts.

* Bidders behaving badly.

* Farhad Manjoo: America can’t remain the world’s tech leader without immigration reform.

* Morning Call: U.S. futures point lower, London opens flat, Europe’s tech gains offset by energy losses, the Nikkei rises 0.2% and China shares climb.

* The Lenny Dykstra saga gets even sadder.

* Stephen Mihm: Why capitalism fails.

* Andrew Bennett: How my technology career helped my fly-fishing business.

* VCs are keeping young startups to themselves, as first-round syndications are on the downswing.

* Newsweek says Jaime Dimon is America’s most important banker.

* New U.S. Treasury Dep’t report titled: “The Next Phase of Government Financial Stabilization and Rehabilitation Policies.”

* I was on a VC media panel earlier this year in Colorado, and each of us were asked to name the most promising VC-backed company out there. Two panelists answered smart-grid company Silver Spring Networks. Here is CEO Scott Lang talking about how his company’s technology works, from the Reuters Global Climate and Alternative Energy Summit: