There’s another tell all book coming. This work examines Beta Kappa Phi, the Wall Street fraternity that meets once a year to roast Wall Street failures.
The org doesn't have a website or anything and the list of members was published today by another big New York paper (New York Magazine).
There are oodles of big, important, old boys’ network guys being collared on the interwebs as a result of press release for the new book. Kappa Beta Phi began around 1912 and chose its name as the reverse of collegiate honors society Phi Beta Kappa.
Little Rock tycoon, president and CEO of Stephens Inc, Warren Stephens’ performance at one of the frat meetings is fodder for the interwebs and soundcloud players all over. The meetings are held once a year at St. Regis in NYC. You can hear his song here. Arkansas Times has a photo.
A few average income Americans will set foot in a St. Regis hotel in their lifetimes. Even fewer will spend a night or weekend in its rooms.
Occupy Wall Street conversations have shaped the Obama Administration for a number of years now. The movement has been a third eye on Wall Street that started with marches and protests in US cities.
The term “one percent” has made its way into American vocabulary and is not easily dismissed as some right or left wing conspiracy with demonic intent like the illuminati. Occupy themes and conversations about the one percent have traversed into film, movies, and now literature in hardback.
Critics contend that television shows like ABC’s “Revenge” are symbolic conversations on the nation’s one percent. “Scandal”may be as well. One percenters earn more than $400k per year.
Unlike the pool of talent and creativity that automatically lands itself into the one percent, for egs. artists, musicians, best selling authors, and professional athletes, Beta Kappa Phi members are corporate execs with big bonuses and yearly earnings that would take an average worker one thousand years to make.
The writer who recorded Warren Stephens performance, and the performances of so many others at the St. Regis annual meeting finds sadness with the disconnect he witnessed. He believes the members are divorced from reality and out of their minds. Otherwise, they would not have joined an organization that makes fun on the “foibles” in the financial sector.
Secondly, the writer says the men are cowards who can’t voice their true opinions all year round, so they do it in satire at the St. Regis where no one is ever supposed to know.
It's not surprising information. But the scoop on the frat is new information that's been secure for over a century.