Pistis
01-16-2011, 08:05 AM
Incestuous hookup of top wall street financiers, regulators, and government officials. But hey, the members say "It was harmless, and it was fun, and it was a good atmosphere.” -- so move along, nothing to see here! :rolleyes:
Wall Street’s Secret Society Inducts Members
January 15, 2011
By Max Abelson
...
Kappa Beta Phi, the banking fraternity founded before the 1929 stock-market crash that counts Wall Street’s most senior executives and regulators among its past members, held its annual induction dinner behind closed doors at the landmark New York hotel on Jan. 13. This year’s names included Josh Harris, senior managing director at Apollo Global Management LLC, the buyout firm led by Leon Black, according to two attendees, who spoke on the condition of anonymity because the society’s activities are secret.
...
American International Group Inc. Chief Executive Officer Robert Benmosche, 66, a Kappa Beta Phi member who disclosed in October that he was undergoing treatment for cancer, was there.
...
A successor there, Mary Schapiro, now chairman of the U.S. Securities and Exchange Commission, is also a member...
...
According to a 1936 article in the Journal, a swipe was Sidney J. Weinberg, then head of what is now Goldman Sachs Group Inc.
...
The entertainment committee in 1937 included Victor G. Paradise, whose name appeared in Time magazine after his firm, Frazier Jelke & Co., paid to print the Declaration of Independence in Washington newspapers as senators debated financial rules. Thomas Gates, who later served as President Dwight Eisenhower’s secretary of defense, was the smudge in January 1942...
...
James “Jimmy” Cayne, then the president of Bear Stearns Cos., told the Times in 1990 that he was a member, even though he hadn’t been mentioned alongside Robert Rubin in a Kappa Beta Phi profile that appeared that week in the New York Observer. Cayne, 76, and other inductees wore dresses with pumps...
...
“I haven’t been there for I don’t know how many years,” he said in an interview yesterday with Bloomberg. “It was harmless, and it was fun, and it was a good atmosphere.” He said he doesn’t remember reading a poem about bridge or wearing a dress, and said he hadn’t worn one before and hasn’t since.
http://www.businessweek.com/news/2011-01-15/wall-street-s-secret-society-inducts-members-with-lehman-video.html
Wall Street’s Secret Society Inducts Members
January 15, 2011
By Max Abelson
...
Kappa Beta Phi, the banking fraternity founded before the 1929 stock-market crash that counts Wall Street’s most senior executives and regulators among its past members, held its annual induction dinner behind closed doors at the landmark New York hotel on Jan. 13. This year’s names included Josh Harris, senior managing director at Apollo Global Management LLC, the buyout firm led by Leon Black, according to two attendees, who spoke on the condition of anonymity because the society’s activities are secret.
...
American International Group Inc. Chief Executive Officer Robert Benmosche, 66, a Kappa Beta Phi member who disclosed in October that he was undergoing treatment for cancer, was there.
...
A successor there, Mary Schapiro, now chairman of the U.S. Securities and Exchange Commission, is also a member...
...
According to a 1936 article in the Journal, a swipe was Sidney J. Weinberg, then head of what is now Goldman Sachs Group Inc.
...
The entertainment committee in 1937 included Victor G. Paradise, whose name appeared in Time magazine after his firm, Frazier Jelke & Co., paid to print the Declaration of Independence in Washington newspapers as senators debated financial rules. Thomas Gates, who later served as President Dwight Eisenhower’s secretary of defense, was the smudge in January 1942...
...
James “Jimmy” Cayne, then the president of Bear Stearns Cos., told the Times in 1990 that he was a member, even though he hadn’t been mentioned alongside Robert Rubin in a Kappa Beta Phi profile that appeared that week in the New York Observer. Cayne, 76, and other inductees wore dresses with pumps...
...
“I haven’t been there for I don’t know how many years,” he said in an interview yesterday with Bloomberg. “It was harmless, and it was fun, and it was a good atmosphere.” He said he doesn’t remember reading a poem about bridge or wearing a dress, and said he hadn’t worn one before and hasn’t since.
http://www.businessweek.com/news/2011-01-15/wall-street-s-secret-society-inducts-members-with-lehman-video.html