"Icing" -- a 24/7 drinking game in which participants force each other to chug bottles of Smirnoff Ice -- originated earlier this year in the frat-house basements of colleges in South Carolina.

However, the phenomenon seemed to reach critical mass this week, perhaps because the Icing craze has now been adopted by the ever-so-mature traders and bankers of Wall Street.

The rules of Icing are simple: If person A shows person B a bottle of Smirnoff Ice person B is immediately required to drop to one knee and slam that bottle of Smirnoff Ice. Unless person B has his own bottle of Smirnoff Ice, in which case person A is "Ice blocked," and has to be one to do the chugging.

Oddly, there is nothing so far to suggest this is a viral marketing campaign by Smirnoff Ice.

Over the last decade or so, Wall Street has been party to some pretty terrible ideas -- for instance, the shady credit default swaps which helped sink America's real estate market.

While we can't go back in time and nip that in the bud, we can say no to the Wall Street–endorsed ridiculousness that is Icing.

So if someone presents you with a bottle of Smirnoff Ice -- whether they be a frat boy in a backward hat, or an I-banker in Gucci loafers -- you need to tell him exactly were he can put that bottle.

America will thank you.