According to the NY Times’ Dealbook, the chandelier-filled ballroom was teeming with 200 men in tuxedos — and a smattering of women — whose daily decisions can collectively make or break the global financial markets. Most were picking over a lavish dinner that included rack of lamb and crème brûlée. Others were preparing to sing bawdy show tunes.
Kappa Beta Phi, an exclusive Wall Street fraternity whose members include big-name bankers, hedge fund billionaires and private equity titans, met at the St. Regis Hotel in Manhattan on Thursday night for its 80th annual black-tie dinner and induction ceremony.
As always, the event was held in strict secrecy, with members being told that “what happens at the St. Regis stays at the St. Regis.” A reporter, however, was able to walk in unquestioned and observe the proceedings.
Neither a rough year in the financial markets nor the animus of the Occupy Wall Street movement was enough to dampen spirits at this year’s dinner, which was attended by members like Alan C. Greenberg, known as Ace, the former chairman of Bear Stearns; Robert H. Benmosche, the chairman of the American International Group; Meredith Whitney of the Whitney Advisory Group; and Martin Lipton, founding partner of the law firm Wachtell, Lipton, Rosen & Katz.
The Occupy movement was fodder for several after-dinner skits. In one, a documentary filmed during the protests, James Lebenthal, a bond specialist, joked with a protester whose face was appeared to be tattooed….
Wait, wait…the fun is just starting. There’s more good stuff at http://dealbook.nytimes.com/2012/01/20/raucous-hazing-at-a-wall-st-fraternity/
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