First Read

Two men are charged with trying to extort up to $11 million from David Blitzer, a London-based senior managing director with The Blackstone Group. Guess somebody isn’t going to be getting a father-in-law’s day gift…

* Megan Barnett looks at Lone Star, the firm that keeps taking out Wall Street’s trash.

* August M&A market is the slowest in 16 years.

* Goldman Sachs: Half the world is already in recession.

* Private equity bails on Freddie and Fannie. Well, at least until it knows if the feds plan to do the same.

* How to stop the next bubble. (h/t Ritholtz)
* Shanghai tries to become a private equity hub. Wait a minute, that’s our tagline.

* Wallstrip takes a sip of Starbucks:[youtube=]