peHUB First Read

Cofee* Al Qaeda monitors the U.S. financial crisis.

* Sankaty Advisors, the credit affiliate of Bain Capital, is suffering major writedowns in its latest funds. This is actually worse for Bain than it appears at first blush, because Bain took $200 million out of its ninth buyout fund to help bolster one of the Sankaty vehicles in question.

* Goldman Sachs plans to cut 10% of its workforce.

* LinkedIn raises more money, which gives Rafat an opportunity to introduce us to a new buzzword: Hydrogen Winter.

* Hollywood and Silicon Valley need eachother, but Spark Capital partner Dennis Miller says that the current relationship is “wildly dysfunctional.”

* Sequoia Capital’s portfolio companies keep laying off. Yesterday it was Mahalo. Today it’s Imeem, a streaming music company that may also be on the auction block.

* Bloomberg reports that Goldman Sachs, Coller Capital and Lexington Partners are among those interested in Lehman Brothers’ fund-of-funds commitments. It cites sources, which are probably folks who read about it two weeks ago in trade pub Private Equity Insider.

* James Surowiecki just launched a blog.

* Wallstrip on United Therapeutics Corp.