peHUB First Read

Cofee* Does venture capital spur innovation, or is it the other way around?

* Christine Williamson on the hedge fund bloodbath to come.

* Barry Ritholtz takes on the meme that all of our troubles were caused by the Community Reinvestment Act and the GSEs.

* A big win and a big loss yesterday for those pushing for greater privatization of U.S. infrastructure. The win was in Chicago, which agreed to lease its Midway Airport to a group of investors led by Citigroup. The loss was in Pennsylvania, where Abertis (Spain) and Citi bailed on a $12.8 billion deal to lease and operate the Pennsylvania Turnpike.

* In case you fell asleep (or were watching the Sox shut down the Halos), the Senate passed its version of the bailout plan. Hey House, the ball is back in your court.

* M&I answers 10 questions about the future of investment banking.

* peHUB reported in June that former CalPERS CIO Russ Read was raising a cleantech-focused private equity fund, and that his partner would be John Preston, former head of MIT’s tech transfer office. The firm is being called C Change Investments, and now has a website.

* Google Blog Search relaunches as a TechMeme killer?

* The SEC has extended its “temporary” ban on shorting financial stocks.

* Mark Walsh: Lehman’s unluckiest gambler.

* Even the creative are going bankrupt.