Sunday, February 23, 2014

Bankers From Hell

Federal Reserve Chairman Janey Yellen giving a talk to fellow Wall Street bankers

02.23.14 photo ST_zps96af8cd4.jpg

Banksters are engaging in a feeding frenzy, from the Ukraine to Syria, to Libya to Europe to the USA, the Wall Street gangsters are in full blood-sucking mode, sucking the wealth out of nations around the world in order to prop up their insolvent banks.

Until those 'Too Big to Fail' Wall Street banks, the Federal Reserve and their 'Godfather,' the Bank for International Settlements in Basel, Switzerland are broken up, the bankers jailed and sentenced to either life in prison or execution, and the power to create currency is returned to the people, the world will not know peace.

One-Percent Jokes and Plutocrats in Drag: What I Saw When I Crashed a Wall Street Secret Society

Recently, our nation’s financial chieftains have been feeling a little unloved. Venture capitalists are comparing the persecution of the rich to the plight of Jews at Kristallnacht, Wall Street titans are saying that they’re sick of being beaten up, and this week, a billionaire investor, Wilbur Ross, proclaimed that “the 1 percent is being picked on for political reasons.”

Ross's statement seemed particularly odd, because two years ago, I met Ross at an event that might single-handedly explain why the rest of the country still hates financial tycoons – the annual black-tie induction ceremony of a secret Wall Street fraternity called Kappa Beta Phi.

“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!”

It was January 2012, and Ross, wearing a tuxedo and purple velvet moccasins embroidered with the fraternity’s Greek letters, was standing at the dais of the St. Regis Hotel ballroom, welcoming a crowd of two hundred wealthy and famous Wall Street figures to the Kappa Beta Phi dinner. Ross, the leader (or “Grand Swipe”) of the fraternity, was preparing to invite 21 new members — “neophytes,” as the group called them — to join its exclusive ranks.

Looking up at him from an elegant dinner of rack of lamb and foie gras were many of the most famous investors in the world, including executives from nearly every too-big-to-fail bank, private equity megafirm, and major hedge fund. AIG CEO Bob Benmosche was there, as were Wall Street superlawyer Marty Lipton and Alan “Ace” Greenberg, the former chairman of Bear Stearns.

It was a secret fraternity, founded at the beginning of the Great Depression, that functioned as a sort of one-percenter’s Friars Club. Each year, the group’s dinner features comedy skits, musical acts in drag, and off-color jokes, and its group’s privacy mantra is “What happens at the St. Regis stays at the St. Regis.” For eight decades, it worked. No outsider in living memory had witnessed the entire proceedings firsthand.
Revealed: The Full Membership List of Wall Street’s Secret Society


MachtNichts said...

Honestly, even us common folk used to have parties like that on special anniversaries. Rural tradition where I come from. Maybe not 200 people attending, but 50 or 60. And lots of off-coloured performances too. All in good fun. Amazing the perpetrators are no different. I don't pretend to know what's going on behind the scenes, but maybe it was just a party?

As for Old Yeller, she's been called a dove, following in the foot steps of Helicopter Ben. And helicopters have been known to crash. Hopefully sooner than later.

Greg Bacon said...

I too have been to these types of parties, usually on Halloween, where we'd get drunk and high and have fun, but we weren't behind the looting of the world's wealth, like these dedicated assholes are.

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