peHUB Second Opinion 1.7

Had to Happen Sometime: Apollo is getting burned on the distressed Lyondell Chemical Co. debt it purchased. (The Deal)

Porn Adult Entertainment Industry Bailout: Yes, thank you Fox Business News for covering this big story. “Girls Gone Wild” CEO Joe Francis and “Hustler” magazine publisher Larry Flynt have said they will petition Congress for financial aid along the lines of what the Big Three auto makers are getting.” (Fox Business)

FYI: The Ascent of Money, a Niall Ferguson documentary and book about the financial crisis, is airing on PBS Jan. 13. (Very Short List)

With Dignity, I Guess: How Satyam’s Chairman announced his massive fraud. (Clusterstock)

Don’t Count On Exits: The IPO Chill may last through 2010. (Deabook)

Get Ready: For your first mark-to-market investor letters. Yes, many of you have been doing it since Q3, but FT predicts “the equity may be well worthless today.” (FT)

Off Topic: A mildly captivating list of creative billboard advertisements. (Toxel)

Mr. Wilbur Ross: Still on the hunt for a bank buyout, he says. Does he have Indymac envy? (Dealzone)

An Exit!!: And a three times return at that. (Alt Assets)

Friendfinder Networks: Taking a bankrupt company public. (Market Movers)

Slummin It: Dick Fuld and his wife are flying coach. (Wall Street Folly)