* Memo: Did Lehman Brothers con JPMorgan into holding onto “goat poo” securities

* Andrew Wallenstein: What worries Netflix (NFLX) about Amazon isn’t just the competition

* Morning Call: U.S. futures point lower on Libya turmoil, London falls early, European shares retreat and the Nikkei tumbles.

* Study: The racial demographics of investment

* Erin Kutz: Is energy efficiency the new cleantech?

* Sarah Lacy: San Francisco wants to tax your stock options… all of them

* Is the FDIC about to sue former Washington Mutual executives?

* Still not getting Term Sheet’s morning emails? Sign up (for free) here!

* Lucy Kellaway: Why Tyra Banks has enrolled at Harvard Business School

* Arnold Kim: Do Apple’s new publisher subscription rules apply to software-as-a-service (SaaS) companies?

* Non-deal of the day: Dynegy (NFLX) fails to sell itself for the second time, prompting company management to quit.

* Remember how we all were going to stop watching TV, in favor of more personalized entertainment? Well, we aren’t.

* Chrystia Freeland: Are the Middle Eastern revolutions more about the “Groupon effect” than the Facebook or Twitter effects?