Preheat the broiler. Melt the butter in microwave on high for about 1 minute. Stir in the parsley, garlic and hot peper. Slice the bread in half horizontally. Brush or spoon the garlic butter over the cut sides of the bread. Place the bread on a baking sheet and broil 3 to 4 inches from the heat about 3 minutes, until nicely toasted. Cut into 1" pieces and serve.