By Dan Primack
June 6, 2011

* Peter Diamond: When a Nobel Prize in economics is not enough

* Luke Timmerman: The quest for big biotech independence may not be quixotic after all

* He bought zebras. Actual zebras: Ex-Wachovia banker gets 7 years for stealing $14.1 million from clients

* Morning Call: U.S. futures point lower (ultra-bearishness?), London opens softEuropean shares slide and the Nikkei sheds 1.2%.

* Lady Gaga: Super-angel?

* Wanna play? Venture capital, the game

* Ernesto: Is YouTube killing music piracy?

* Sign up for our daily emails at GetTermSheet.com

* Big deal: Statoil sells $3.25 billion pipeline stake

* Little foundations, big returns: Small U.S. charities outperform larger peers

* J.P. Morgan shakeup: Two of Jamie Diamond’s allies are expected to step down

* Zeroing in on Stevie: Noah Freeman admits to insider trading while at SEC Capital

James Surowiecki: “[Elizabeth] Warren is far from the anti-capitalist radical that her critics (and some of her supporters) suppose. Indeed, an empowered C.F.P.B. could actually be a boon to business.

* The ethics of business: “We found that when individuals saw a decision through an ethical frame, more than 94% behaved ethically; when individuals saw the same decision through a business frame, only about 44% did so.”

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