peHUB First Read

* Does Wall Street prefer Democrats this November? It looks that way, and corresponds to what we’ve seen from the PE and VC communities.

* And now, the conclusion of Bear Stearns.

* VentureBeat reports that VC-backed online ad network Glam Media has a $1.3 billion acquisition offer — and that it’s gonna say no.

* It’s not over till it’s over, but Clear Channel says to circle the end of Q3 for its take-private to close.

* As I writer, I was always annoyed by idealab!, because it used that damn exclamation point in its name. Also been bothers by .406 Ventures, thanks to that preceding period (made slightly less bothersome by its Red Sox roots). But we’ve now entered a new level with [x+1], a predictive online marketing company that just raised $16 million in new VC funding. It’s like the company is asking my word processing software to spontaneously combust.

* With CNet now under its belt, what’s the next acquisition target for CBS Interactive?

* Is technology facing its mid-life crisis?

* Q&A with Jaime Thomson, the researcher responsible for embryonic stem cells.

* Somewhere between transparency and incompetence: Twitter launches a blog devoted to its own service status.

* Raquel Palmer of KPS Capital Partners, on the distressed market:[youtube=http://www.youtube.com/w/?v=n7tZgTHDX0s]