Panobinostat and Everolimus in Treating Patients With Recurrent Multiple Myeloma, Non-Hodgkin Lymphoma, or Hodgkin Lymphoma

Inclusion Criteria: * Relapsed or refractory multiple myeloma requiring therapy, who have failed, unable to tolerate, or refused other available active therapies * Biopsy-proven relapsed or refractory non-Hodgkin lymphoma or Hodgkin disease requiring treatment, who have failed, unable to tolerate, or refused other available active therapies; patients should not have other treatment options considered curative; (NOTE: for patients with lymphoma, a re-biopsy is necessary unless the patient has had a previous biopsy \< 6 months prior to treatment on this protocol if there has been no intervening treatment; patients with biopsy-proven central nervous system \[CNS\] lymphoma at any time are not required to have a re-biopsy to be eligible for this study) * Multiple myeloma: * Serum monoclonal protein \>= 1.0 g/dL * \>= 200 mg of monoclonal protein in the urine on 24 hour electrophoresis * Serum immunoglobulin free light chain \>= 10 mg/dL AND abnormal serum immunoglobulin kappa to lambda free light chain ratio * Monoclonal bone marrow plasmacytosis \>= 30% (evaluable disease) at time of registration * Lymphoma: * Measurable disease by computed tomography (CT) or magnetic resonance imaging (MRI) or the CT portion of the positron emission tomography (PET)/CT; must have at least one lesion that has a single diameter of \>= 2 cm or tumor cells in the blood \>= 5 x 10\^9/L; skin lesions can be used if the area is \>= 2 cm in at least one diameter and photographed with a rul…