BANKERS AGREE TO SELF FLAGELLATE

BANZAI7 NEWS--Chief executives of the largest U.S. banks acknowledged Monday the "disconnect" between their expressed support for re-regulating financial markets and the work of their lobbyists to weaken any new rules.

The executives pledged during a White House meeting with President Barack Obama that they would personally intervene on behalf of the legislation.

The bankers also agreed that it is a good idea to bring back the Glass Steagall Act, provided their institutions are grandfathered from the legislation.