peHUB First Read

Some links to kick off your Wednesday:

* SPAC registrations hit a five-month low.

* Hedge funds are losing money, but keeping clients.

* Andrew Sorkin asks Michael Milken if today’s economic troubles are rooted in junk bond excesses of the 1980s. DealScape asks if Sorkin is asking the right question.

* Mark Hopkins asks everyone to stop calling it a recession.

* An outlook on Wall Street compensation for the rest of 2008.

* Will Price leaves VC to become a CEO, and loses his blogging voice.

* Leon Black is optimistic.

* From gum to credit cards: Could American Express be Warren Buffett’s next acquisition?

* Ithmar Capital has released its latest quarterly update on private equity in the GGC region. Here it is in PDF form: PEInsightsIII.pdf

* WallStrip on RIM:[youtube=http://www.youtube.com/w/?v=M9uBC4PH3oE]