Feb 4 - Wall Street Boys Have A Secret Frat Like Club Where They Sit And Mock Poor People(video)

Would you believe that Wall Street's ruling class has a fraternity of its own? One that enjoys eating lavish meals at the St. Regis and regaling its members with "raucous" skits that only reinforce how hopelessly out of touch they are? Pick your jaw off the floor, brother: the Times is on it.

Dealbook reporter Kevin Roose was able to amble into the annual black-tie meeting of Kappa Beta Phi, a fraternity founded in 1929 to mock Phi Beta Kappa that counts "big-name bankers, hedge fund billionaires and private equity titans" as current and former members. Though it was announced that "what happens at the St. Regis stays at the St. Regis," Roose was able to "walk in unquestioned and observe the proceedings," presumably because he was disguised as a platinum, monogrammed money clip.

In attendance were the chairman of AIG, the former chairman of Bear Stearns, the senior managing director of the Blackstone Group and Wilbur Ross Jr., a billionaire investor who served as the frat's "Grand Swipe." The aim of the evening was to induct new officers and "haze incoming members by having them don wigs, gold-sequined skirts and skin-tight tops and put on a comedic variety show for the enjoyment of other members." You know, the usual non-homoerotic stuff fraternities do.

The variety show included hilarious skits invoking Occupy Wall Street:

William Mulrow , a senior managing director at the Blackstone Group, put on raggedy clothes to play the part of an Occupy protester. Emil W. Henry Jr., a managing partner at Tiger Infrastructure Partners and a fellow new Kappa, joined him dressed as a wealthy baron.

“Bill, look at you! You’re pathetic, you liberal! You need a bath!” Mr. Henry said, voice full of mock indignation.

“You callow, insensitive Republican!” Mr. Mulrow said. “Don’t you know we need to create jobs?”

And fabulous musical routines:

Inductees sang Wall Street-themed versions of “Mama, Don’t Let Your Babies Grow Up to Be Cowboys,” (replacing “cowboys” with “traders”) and Abba’s “Dancing Queen” (which was retitled “Bailout King”). Mr. Lasry, [Ed: Marc Lasry, the billionaire founder of the Avenue Capital Group] along with two other inductees, dressed as a member of the Village People for a financial rendition of “Y.M.C.A.” Mr. Lasry declined to comment.

And when things got really rowdy, "some audience members threw objects at performers on stage, including petit fours and napkins dipped in wine." Wait, people eat petit fours?

Did we miss the part where Jon Corzine shotguns a Natty Ice and farts the tune of "Friday?" Where are the ice luges? The searingly offensive gags? Did anyone even have fun being Masters of the Masters Of The Universe on Thursday night?

As for the menu: "rack of lamb and crème brûlée?" Why not just have the waiters at Smith and Wollensky sing everyone Happy Birthday?
Wall Street "Frat" Just A Bunch Of Sad Old Men & Their Crème Brûlée: Gothamist



So whats going to happen when the police they hire can no longer protect them and turn on them? Its going to happen eventually.
Remember when OWS started, first week millionaires sat above the protestors toasting to them as police officers maced and tortured citizens spraying them at close range.

Listen, Occupy protests are going to get ugly as more people wake up. prepare, prepare, prepare.

good read.. too bad no one gives a !! +

lol we give them billions in tax money and they have to nerve to make fun of us? dirty, greedy mother f*ckers.

"Hey, American taxpayers, we !! our buisnesses up, we ran them into the ground, so give us your money with no interest on it, don't worry though, we'll pay you back what we borrowed and make billions on top of that... and then when you guys complain about inequality were gonna point and laugh and call you hippies who need to shower and get a job. But thanks for that money though."

Take tax money to create "jobs" then make fun of niccas who expect jobs. WOW.

subs thread

Ya'll complaining like getting mad is going to solve anything, occupy wall street although was good on paper and planning turned out (or got turned into) a complete joke.

You don't fight fire or oppression with cry's, anger or tents, you retaliate where it hurts the most and produce the most effective results AKA Their Wallets.

it's EASY to see what need's to be done, but Us Americans are so pampered and subdued by culture and entertainment that no one is putting forth ANY effort to correct these social and economic ill's.

!!ing hate Young Turks

This is what change looks like...

Americas are too passive, wont ever see anything like arab spring.

Yep arab spring was a success
right now egypt is starting to have riots like the one at the soccer game , with a lack of police support and they are running out of wheat supplies

its cool, laugh it up............cuz if !! ends up going down in the least bit who do you think will get their doors kicked in and duct taped up first

More class warfare propaganda.

Rich people always make fun of poor people, this has happened since the beginning of time...

Just another extension of Jocks versus Nerds but more complex...



you poor poor pawns.

I hope when you say "class warfare" you aren't referring to the right wing talking point. Because, you are right there is class warfare, but its the rich waging war on everyone else. They have rigged the game to their favor.

so instead of talking down on everyone... why don't you actually say whats on your mind?

No I'm saying there is no class warfare. All the rich are doing is trying to get more rich. Just like anyone in a Capitalistic society has ever done. How is that evil? You think they're in meetings talking about, "Say Johnson!... How can we !! the poor in the[..]?"

I just hate how growing up we've been groomed to hate the rich and view them as completely evil like they're some movie villain out to !! on everyone. That's way too extreme of a view point and entirely too black and white.

People act out of self interest. It's always been that way. As for the supposed, "Good Rich Folks" like Buffett and Bill Gates, Steve Jobs all these guys... they're just playing a card which earns them reputation points. You'll argue Gates donates an insane amount of money and that's true but in doing so he also gets insane tax breaks for doing so. It goes both ways. Rich people are not evil. NO ONE is evil. No one is trying to "fix the system."

They're trying to make money... because that's how rich people became rich in the first place... they know how to make money. As for the guys who inherited their fortune they're just trying to live up to their father.

I'm sick of this moral, extreme black and white finality bull!! about the rich and poor. Maybe poor people are poor for a reason? Maybe rich people are rich for a reason? Doesn't that seem more logical and rational than someone being an evil villain and the other being a hapless innocent? Maybe one is smart, and one is stupid...

I'm not even saying this as a rich person. My family has been in poverty forever. My dad is a bum for all intents and purposes. My mom is a hard worker so she's made it into lower middle class area and it always amuses me to see her try and fit in with the richer class at her work when she's just not that at all. I in turn am lower middle class as well. But I grew up in poverty. I was the only kid in my class that couldn't go on the class field trip. Some kid !! himself and everyone was rolling over it and I was pissed because I missed that I was the only kid who couldn't afford the graduation field trip to D.C. I didn't own a CD or CD Player until 2001!... 2001!

So I'm not saying this from a biased viewpoint because I'm rich and I look down on the poor, I am the "poor."

What I'm seeing... is gross perversion of ethics and entitlement in this country now. No one wants to work hard anymore, we're all entitled. We'll all say we're willing to work hard, but only for certain jobs... No one wants to work at McDonalds, or be a Janitor, or be a dishwasher, etc. and build themselves up. There's jobs like that all around yet people are turning their noses up at those jobs because, "I'm better than that, I have a degree." Yeah, I got a !!ing degree too. Lots will crunch their brows at those jobs and think, "That's for the Mexicans."

It's funny because the Mexicans are being smart about it. They know you can't make money without working hard. Everyone wants the short cut. Everyone wants to graduate college and hop right into a position in that field they majored in. Guess what, not happening right now, so suck it up and go apply at a Temp agency, or your local Burger King. !! is real. This isn't 1999.

In a nutshell, I'm saying I'm sick of my generation pointing the finger. Yeah, our parents !!ed up the country. For the first time in 70 or so years the children of this generation are looking at a bleaker future than their parents. But guess what? The damage is done. Nothing is going to be solved by blaming anyone, the rich, wall street, whoever. Need money? Figure a way to get !!ing paid. However you can, whatever job you can. I don't care how stupid you look in that gay Dominos uniform. You do what you have to do to make that yaper.

Stop living like an !! and spending money on stupid !!, if you have any debt, first priority is to pay that off. In the meantime live frugally and bite the bullet because there's no other option. There's no secret passageway, that's what this whole "Let's take the rich people's money" agenda is. It's a perceived short cut. But what will that lead to? Not much at all. You think because the rich get taxed some more than they already do anything is going to improve? Get the !! out of here...

The government being in charge of everything is the main problem. Just like America is too spread out with it's military around the world and faltering, the government is too spread out in America and faltering. They're a giant DMV. They're not smart enough to make things better. So taking more money from the rich and thus giving it to the government to use how they see fit is RETARDED.

They'll invest it in programs that only interest a certain group and then the public will be mad again at how the government did that and wonder why it happened. The government isn't the genius in 3rd period. They're your high school principal and staff. They're bums just like you and me. So why would you want another bum to handle your needs when your bum[..] can handle your own bum needs?

You dig?