John Mack said last night at panel discussion hosted by Bloomberg News and Vanity Fair that as an (outgoing) chief executive of a major bank, he welcomes, nay, begs for increased regulation by the Fed. He illustrated this need with a little story about how during the credit boom, he almost did a deal at 8 times leverage, and then someone else came in and did it at 10. And you know what that showed Mack? That "We cannot control ourselves. You have to step in and control the Street." So there it is, the bottom line. We will not stop until you pry the crack pipe from our dead lifeless fingers. If you thought that time we got picked up by the cops for freebasing smack off a homeless man's dick in a back alley was a wake-up call, you thought wrong.