Steam freezes on launch. Need some help

[yoba]

Steam freezes on launch.

@ubuntu:~$ steam
Running Steam on ubuntu 12.04 32-bit
STEAM_RUNTIME is enabled automatically
Installing breakpad exception handler for appid(steam)/version(1367621987_client)
Installing breakpad exception handler for appid(steam)/version(1367621987_client)
Installing breakpad exception handler for appid(steam)/version(1367621987_client)
unlinked 0 orphaned pipes
removing stale semaphore last operated on by process 21541 with name 0eBlobRegistryMutex_1AACA9FD72D9727C82294CB77732702C
removing stale semaphore last operated on by process 21541 with name 0eBlobRegistrySignal_1AACA9FD72D9727C82294CB77732702C
removing stale semaphore last operated on by process 21541 with name 0emSteamEngineInstance
removing stale semaphore last operated on by process 21541 with name 0eSteamEngineLock
GLib-GIO-Message: Using the 'memory' GSettings backend. Your settings will not be saved or shared with other applications.
Installing breakpad exception handler for appid(steam)/version(1367621987_client)
[0509/173006:WARNING:proxy_service.cc(646)] PAC support disabled because there is no system implementation
Installing breakpad exception handler for appid(steam)/version(1367621987_client)
Installing breakpad exception handler for appid(steam)/version(1367621987_client)
Installing breakpad exception handler for appid(steam)/version(1367621987_client)
Installing breakpad exception handler for appid(steam)/version(1367621987_client)
Generating new string page texture 7: 128x256, total string texture memory is 131,07 KB
Generating new string page texture 8: 48x256, total string texture memory is 180,22 KB
Generating new string page texture 9: 256x256, total string texture memory is 442,37 KB
Generating new string page texture 10: 64x256, total string texture memory is 507,90 KB
Generating new string page texture 12: 16x256, total string texture memory is 524,29 KB
Generating new string page texture 13: 24x256, total string texture memory is 548,86 KB
Generating new string page texture 14: 32x256, total string texture memory is 581,63 KB
Installing breakpad exception handler for appid(steam)/version(1367621987_client)
Installing breakpad exception handler for appid(steam)/version(1367621987_client)
Installing breakpad exception handler for appid(steam)/version(1367621987_client)