peHUB First Read

Some links to kick off your Wednesday:

* Alan Greenspan: Don’t blame me.

* Apollo Management is coming to a public stock exchange near you, as peHUB first reported in February. What we didn’t know at the time is that Apollo’s “private exchange” shares have lost 42% of their value.

* Speaking of Apollo, it apparently owns one of the only PE-backed chain retailers in peril (Linens ‘n’ Things). Most of them are actually in pretty good shape, according to The Deal.

* Blackstone’s John Studzinski says to expect market turmoil through 2010.

* Two new legal rulings could make website operators more vulnerable to lawsuits, in regards to content posted by readers.

* Citi is in talks to sell $12 billion in loans to a trio of PE firms.

* Quote of the Day comes from a letter to the Economist, from John Baumeister of Edmonds, Washington: “The present economic situation requires a new terminology, borrowed from physical science. For example, sublimation: the process by which assets considered solid evaporate without first passing through a liquid phase, as in, ‘Oh, no. My stock in Bear Stearns just sublimated.'”