Pre-Marketing 12.14.10

December 14, 2010, 5:27 PM UTC

* Robert Frank: Wall Street’s version of austerity

* Brad Burnham: Internet access should be application-agnostic

* CFO Q&A: Peter Nachtwey on leaving Carlyle and joining Legg Mason

* Matthew Lynn: The only way to fix Wall Street’s bonus culture is to break up the banks

* Ponzi chasers: Hedge fund managers offer Madoff victims the chance to trade in their claims for cash

* Morning Call: U.S. futures show little change ahead of Fed meeting, London opens flatEuropean shares slip and the Nikkei hits a 7-month closing high.

* Time-waster: The most-watched YouTube videos of 2010

* Joseph Reger: Amazon’s WikiLeaks response threatens cloud computing

* Obama to corporate America: Spend some of your damn money on hiring

* Moody’s: New round of Fed stress tests could spur further bank consolidation

* CalPERS alters its asset allocation model, but keeps private equity target steady at 14%

* Got something to sell to Conde Nast? Maybe your vintage collection of Portfolio first editions? Well, the publisher has $500 million to spend, and an ex-Yahoo to spend it.

* Hooters hold-up? The chicken wing chain may have agreed to sell itself to Wellspring Capital Management, but someone else claims they have a pre-existing option to buy.