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peHUB First Read 5.27

Things Are Getting Desperate: The world of job hunting in finance just got even more degrading, according to a story called “Scenes from The Hiring Front (I’ll Work For Free).” (Deal Journal)

Clearly: We’re expecting some changes on the PE-Bank investment front, but in the meantime, Dow Jones has obtained a 289-page report that argues we should eliminate restrictions altogether. Easier said than done. (WSJ)

Meanwhile: Jack Reed has some thoughts of his on own the PE + Bank combo topic. (Daily Finance)

Workarounds: Some banks are still hoping that they’ll be allowed to game the Tim Geithner’s Public-Private Investment Partnership. (Clusterstock)

What Work/Life Balance? Here’s some depressing news coming off of a holiday weekend-people in finance suffer the most when they take time off work. (Atlantic)

Your Jobs Are Safe: The WSJ’s assertion that a team of Harvard and NYU academics had cracked the code to M&A valuations is plainly false, writes Epicurean Dealmaker.

Daniel Gross Asks: We know the SWFs have been feeling pain lately, Slate lays out just how painful it’s been for them (but he mostly just makes fun of everyone for freaking out over their sudden rise to power). (Slate)

Felix Salmon: When bank defaults are a good thing. (Reuters)