peHUB First Read

Some links to kick off your Monday…

* TPG is leading $5 billion bailout investment for WaMu.

* Is “free” killing us? If so, blame the VCs.

* Lachlan Murdoch’s takeover attempt of Consolidated Media has failed, despite having secured a major equity commitment from Providence Equity Partners.

* Speaking of dead deals, Goldman Sachs and Myers Industries confirmed what we’ve all known for months: It ain’t gonna happen.

* New rule: You cannot refer to your new fund as “mid-market,” if you’ve just raised $10.4 billion. Large-market, maybe. That means you Advent International.

* My imminent colleagues at Reuters get the scoop on a letter Microsoft is sending today to Yahoo. In a related note, some of you have questioned my use of the term “imminent” in regards to Reuters — suggesting that I really mean “eminent.” I guess I could mean both, but my phrasing refers to the fact that Thomson Financial is buying Reuters in T-minus 10 days…

* I’m also not on Twitter, but I chalk that up to my lack of Blackberry, iPhone or other nifty messaging device. I’m not a Luddite, just lazy. Or maybe brilliant…

* Blackstone Group co-founder Pete Peterson recently sat down for an interview with Charlie Rose: