* Rory O’Driscoll: Why VC returns are going up (because going any lower would be cruel?)

* The Immelt Rule? Paul Volcker’s polar opposite successor lays out his vision for America’s future

* Morning Call: U.S. futures point higher, London rises early, European shares extend gains and the Nikkei sheds 1.6%.

* Mark Mobius, hedge fund manager?

* Who needs Groupon? Google launches Offers

* Study: BlackRock and PIMCO are kings of the TALF

* Gus Lubin: 12 reasons Meredeth Whitney is wrong about the muni crisis

* If Super Bowl ads air before the big game, then are they really Super Bowl ads?

* Jonathan Fisher: How Britain’s Bribery Act brings the law of unintended consequences into play

* Big social media week for Blackstone Group (BX). First a Twitter feed, and now a blog. Well, sort of a blog.

* UK buyout firms consider extending investment periods. You know, there is another option: GIVE BACK THE MONEY!

* Nielsen fires RBS as an IPO underwriter, after a bank employee sent out an unauthorized email to prospective investors.

* AOL’s dirty little secret: Most of its profits still come from Internet access subscriptions, and most of the subscribers are “older people who have cable or DSL service but don’t realize that they need not pay an additional $25 a month to get online and check their email.”