THE FRAT BOYS OF WALL STREET

From the New York Times::

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.”

But wait!

A reporter, however, was able to walk in unquestioned and observe the proceedings.

At least this year the secret is not so well kept. The name of the fraternity is the reverse of Phi Beta Kappa. Once a year, the merry band of hard-working rich men and a "smattering" of rich women let off steam at a jolly party which includes performances by the members. According to the report, most of the jokes are at the expense of the members themselves, but they also move out of their own circle to find humor.

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.

“Go home, wash that off your face, and get back to work,” Mr. Lebenthal told the protester.

Several anonymous members did not attend the gala, because they feared to appear insensitive to those adversely affected by the dismal state of the economy, and one admitted that he found the skits offensive. Why not resign? I guess it counts for something to be able to mingle with the likes of "Ace" Greenberg, formerly of Bear Stearns, and Robert H. Benmosche, chairman of AIG.

Fellas and "smattering" of gals, you've had your "lavish dinner" and your fun, but I hope you feel a little ashamed now that your fun time is exposed to the light. You raise my ire when you mock the Occupy Wall Street folks who put themselves out there to awaken the rest of the citizenry, the 99%, to the mess you and the politicians who are indebted to you have made of our country. Shame on you.

H/T to Occupied Bishop George Packard for the the link posted on Facebook.