As the collapsing housing market brings the nation closer to financial ruin and banks threaten to end the quarter with multi-billion dollar losses, New York's bankers are now, finally, turning against each other and fighting in public. Unfortunately it was part of a big sanctioned boxing tournament and not like a street brawl or something. (Yet!)

At the Hammerstein Ballroom last night, 800 bankers turned out and got wasted to watch 16 of their brethren pretend to be boxers and beat one another up (for charity!).

Josh "The Matrix" (uggh) Weintraub, "a mortgage bond trader and senior managing director at Bear Stearns," was voted "best boxer" at the end of the night, proving yet again that Bear Stearns employees would much rather do just about anything other than like manage hedge funds or whatever bankers "do."

Boxing: Wall Street Style [CNN]