peHUB First Read

* PE firms want deregulation of investments in the banking sector. The NY Times editorial board dissents.

* Silicon Valley: If we ignore China, will it go away?

* Turnaround firms dodge falling knives (sub req.).

* Fred Wilson discusses venture fund economics: “I think getting 2x invested capital back is the absolute low end of acceptable performance in a venture fund and I sure hope and expect we can do better for our investors.” He also has done a follow-up post, which incorporates VC fund manager compensation (i.e., net returns vs. gross returns).

* Thinking about a second stimulus package.

* VC-backed bust: Social.fm

* Was Cramer right?

* A bull market in Bear books. Related: Barry takes a shot at Fox Biz.

* Blackstone Group opens an office in Beijing. Yeah, I also thought they had done that years ago.

* Just 143 shopping days left until Christmas. Perhaps you’ll spend some of those days waiting in line for an iPhone Nano.

* Questions for T. Boone Pickens

* Wallstrip on speculation: [youtube=http://www.youtube.com/w/?v=aH53f0_ynTM]