peHUB First Read

* China keeps opening up: Shanghai will let foreign VC and buyout firms register as local equities investment firms, which gives them “legal status” and special tax treatment.

* Stupid patent case of the week.

* McCain unveils his tech policy. Silicon Valley will like the H1-B visa expansion and tax breaks for broadband carriers in rural areas. Won’t be too fond of his Net Neutrality position, however…

* Is Hexion about to experience a MAC boomerang?

* Houlihan Lokey cracks into the Auction Block League Table.

* Apollo is going public, but isn’t saying if it will do it like Blackstone or like KKR.

* From CNBC to SAC Capital — the case of Ron Insana.

* Dave Weidner on Wall Street: Whoops, there goes our profits.

* Wallstrip on election ads:[youtube=http://www.youtube.com/w/?v=kYfuD88bWwo]