Secret society plutocrats gather to eat, drink, cross-dress, and laugh at the poor [View all]

[Judi Lynn]

Secret society plutocrats gather to eat, drink, cross-dress, and laugh at the poor
By Tom Boggioni

Writing for New York, Kevin Roose reports on the annual gathering of the secretive Wall Street fraternity Kappa Beta Phi at New York’s St. Regis Hotel, where members indulged in an evening of eating, drinking, cross-dressing, and telling homophobic and sexist jokes.

Hosted by billionaire investor Wilbur Ross, clad in a tuxedo and purple velvet moccasins embroidered with the fraternity’s Greek letters, members were welcomed at the 2012 gathering with, “Good evening, Exalted High Council, former Grand Swipes, Grand Swipes-in-waiting, fellow Wall Street Kappas, Kappas from the Spring Street and Montgomery Street chapters, and worthless neophytes!”

The evening’s festivities included the induction of 21 new members – ‘neophytes’ – each of whom was required during the evening to dress in leotards, gold-sequined skirts, and costume wigs in order to become members of the fraternity.

The current Kappas roster includes CEO’s, billionaires, and hedge fund managers from Citigroup, Goldman Sachs, Blackrock, AIG, Morgan Stanley Chase, Home Depot, as well as former New York City mayor Michael Bloomberg and ex-New Jersey governor Jon Corzine.

More:
http://www.rawstory.com/rs/2014/02/18/secret-society-plutocrats-gather-to-eat-drink-cross-dress-and-laugh-at-the-poor/