peHUB First Read

Cofee* Masonite may be the next buyout-backed bust, with Bloomberg reporting that the Canadian doormaker is trying to get its lenders (led by Scotia Bank) to agree to a 30-day reprieve in exchange for higher interest payment and fees. This comes after the company failed to make a scheduled interest payment this past weekend. No wonder KKR has already written this dog down to zero, after paying $1.9 billion for it less than two years ago.

* David Bonderman has nothing but kisses for his limited partners.

* UK-listed SVG Capital is trying to scale back its payments to parent firm Permira. The primary problem?

As of last week, SVG had commitments of £1.25 billion to pay to Permira and others but only £1 billion of cash.

* Morning call: U.S. futures slightly lower, commodity and bank stocks take Europe lower, Nikkei sags and Hong Kong dives 4.5 percent.

* One-third of all deals announced in 2008 have either been canceled or have so far failed to close, according to UBS.

* CNBC’s Dylan Ratigan is guest-blogging on Carl Icahn’s site? So is Nell Minow.

* Jerry Yang steps down as CEO of Yahoo. That means we get to resume the Jon Miller speculation, and wonder how long it will be until Yang joins a venture capital firm. I give the latter less than one year.

* Eliot Spitzer comes out of his shame cave to write an op-ed in Sunday’s WaPo.

* Credit Crunch: The ancient Rome version

* Hank Paulson tells Alan Murray that Treasury is not “experimenting” with the bailout. Alan then proceeds to choke on the statement and is rushed to the hospital. I’m told he’s since recovered, after getting some cooler oxygen: