peHUB First Read

Cofee* Congress passes the 90% tax on AIG bonus recipients. Now is the time for private equity to whisper in Congress’ ear that it too will take a 90% tax, on calendar 2009 carried interest. Then it can go back to the capital gains rate. Congress gets its pound of flesh, and PE pros get to look like they’ve been slapped, all the while knowing that there wasn’t going to be much carry this year anyway.

* Time to reboot venture capital deal structures.

* Morning Call: U.S. futures point lower, European shares slip on worries over Fed move, London flat in early trading, the Nikkei dips slightly and Hong Kong finishes down 2.3 percent.

* Survey shows that almost half of Americans would opt out of Social Security, if allowed to. Amazingly, this included nearly 33% of respondants over 60 years-old.

* The heads of 13 departments at a major Boston hospital agree to donate $350k. The cause? Staving off layoffs.

* Madoff’s market-making business might have been legit, but that doesn’t mean it was profitable.

* Could U.S. limits on hiring foreign workers bite back in a big way?

* Contrarian View: HR 1586 (T.A.R.P. Surtax Bill) will create millionaires

* Goodbye Financial Week: Another business publication folds.

* TheFunded takes my VC Walking Dead list one step WAY further.