peHUB First Read

* Michelle Leder on how banks are spinning their participation in the Fed rescue. In short: They’re only doing their patriotic duty.

* Henry Waxman to banking honchos: Justify your pay.

* Morning Call: All eyes on another Fed rate cut, but U.S. futures point to early losses.

* McCain and Palin sit down with Maria Bartiromo.

* Five months ago, George Bilicic left Lazard to launch an infrastructure group (and dedicated fund) for KKR. Now he’s back at Lazard.

* How to ruin your weekend, in three easy steps.

* Gossip Girl name-drops Warren Buffett. Does that mean both of them have jumped the shark?

* Carl Icahn: 100 million reasons why we need government change.

* The Christian Science Monitor is exiting the daily print biz. Makes me sad.

* Consumer confidence hits record low.

* LinkedIn unveils an application platform.

* Wallstrip on economic purgatory:
[youtube]http://www.youtube.com/watch?v=8Vi5d0VCPXk[/youtube]