If you need a reason why the banking industry needs more regulation, here's TEN...

TalkingPointsMemo broke down the ten worst things ultra-douche John Thain of Bank of America (well, formerly of Bank of America) had done during the fiscal crisis/bailout. It's worth an entire read just for the gasp factor... here's a snippet...

5. The In-Retrospect-Ill-Advised Ski Trip

In mid December, Bank of America CEO Kenneth Lewis learns that Merrill's fourth quarter losses will be much larger than expected. Lewis gets the bad news not from Thain himself, but from the transition team handling the merger -- perhaps because, after the losses surface, Thain takes off for his ski house in Vail. (A "person familiar with the matter" tells the Journal, hilariously, that Thain was "working and available" while in Vail.)

Jesus H. Christ. Read the whole thing. It's astonishing.

And not to be outdouched, Citibank, who just begged for more bailout money, is in the process of buying another tricked-out corporate jet.

And again not to be outdouched, John Fuld of Lehman Brothers "sold" his 13 million dollar house in Jupiter Florida to his wife, Kathy, most likely to avoid liability if he's sued for all the shitty things he bilked out when Lehmans collapsed. That should be illegal, and the asshole and his fucker of a wife should both be thrown in prison. Stat.

UPDATE: Amazingly enough, Citi has decided not to purchase the plane. Apparently the media attention and the admistration shamed them. I didn't think that would be possible.