* Is Roger Altman a candidate to replace Larry Summers?

* Watch out: Harvard MBAs are storming Wall Street again

* Warren Buffett ♥’s Uncle Sam: “You delivered. People will second-guess your specific decisions; you can always count on that. But just as there is a fog of war, there is a fog of panic — and, overall, your actions were remarkably effective.

* Morning Call: U.S. futures point higher, London falls early, European shares climb, China shares fall and the Nikkei gains.

* Chris Duvous: Private equity lessons from the subway

* The trading of U.S. bankruptcy claims slumped last month

* Jeff Joseph: Bi-partisan pro-growth tax policy demagoguery

* Charlie Gasparino: Mocking Ben Bernanke is bad for America

* Rogue trader Jerome Kerviel: I was just “a small cog in the machine.”

* Do sky-high Internet valuations represent a boom or a bubble? Is there a difference?

* Still not getting Term Sheet’s daily emails? Are you also still using a rotary phone? Sign up here.

* Nycomed CEO Hakan Bjorklund: “The golden era of pharmaceuticals is over… [discovering new drugs] is looking more and more like a lottery, not an investment strategy.”