Last night, DealBook posted the story of what happens when a bunch of high powered financial types get together to party. Thursday marked the “annual black tie dinner and induction ceremony” for Kappa Beta Phi (yes, like Phi Beta Kappa, only not), an invite-only, group for master of the universe-types like the former chairman of Bear Stearns and the chairman of the American International Group, which costs $475 a year in dues. The dinner took place at the St. Regis Hotel, and before reading on just note that members were warned: “what happens at the St. Regis stays at the St. Regis.”
Rack of lamb, crème brûlée, and hazing were all on the menu for the evening. And, of course, Occupy Wall Street jokes:
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.
And more Occupy Wall Street jokes:
In another skit, 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?”
In what DealBook called “the night’s musical finale” inductees to the fraternity sang Wall Street version of the song “I Believe” from The Book of Mormon. (Clad in white shirts and black ties, they replaced lines like “I believe that the Lord God created the universe/ I believe that he sent his only son to die for my sins” with “I believe that the Lord God created Wall Street. I believe he got his only son a job at Goldman Sachs.”)
Even though there appears to be both fun made and had, all in all the event seemed far more Omega Theta Pi than Delta Tau Chi.
We’ve attempted to reach out to the OWS PR Team to see if they have any comments. We’ll update if we hear back.
We got an email from OWS PR Team with a response from an occupier who asked to just go by Catherine:
If the American people hadn’t bailed those bankers out, they’d be singing a different tune. Too bad our tax money goes pay for raucous frat dinners at the St. Regis instead of helping the 99%. But that’s what we get when Wall Street writes the rules.