Friday, August 19, 2011

Tales of Conspicuous Consumption: The Rich Can’t Stop Throwing Zillion-Dollar Birthday Parties as America Crumbles

Gawker comments: No matter how many billions of dollars he accumulates, private equity billionaire Steven Schwarzman will never live down his ultra-lavish 60th birthday party in 2007, which now stands as one of the ultimate symbols of the excesses of the pre-recession gilded age of finance, and also of how Steve Schwarzman is a pretty unwavering prick. How are the finance titans of these post-recession times demonstrating that they learned their lesson. They're not! Trick question.

Dealbook reports today on the 60th birthday party of financier Leon Black, who runs a $72 billion private equity firm. Black's party should not be confused with Schwarzman's fiasco—Black had Elton John perform, rather than Rod Stewart. A "foie gras station!" A star-studded guest list! And a sober sense of propriety, amongst the guests:..

Read more at http://gawker.com/5832564/rich-guys-cant-stop-throwing-zillion+dollar-birthday-parties-as-america-crumbles

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