Blogging on If Only for a Night, Wall St. Fallen Idol Is One of the Boys

An interesting article about Kappa Beta Phi - one of the most mysteriously secret societies in Wall Street - a club of the choicest of finance professionals.

Says "The sole purpose of the society, which claims more than 250 of Wall Street's executives and former chiefs, is to allow some of the biggest egos in finance to poke fun at themselves and to induct new members in a campy rite that dates back to 1929."

Seems The top officers are referred to as Grand Swipe and Grand Loaf, and its motto is Latin for "We Sing and We Drink." Members are strongly encouraged to maintain a bond of secrecy with regard to the club's rituals and the fun that is had at member's expense.

Some more interesting stuff At the dinner, part of the tradition is for the members to hurl dinner rolls at the inductees as they perform their song-and-dance numbers. The club takes its performances very seriously, and inductees are provided with coaches to ensure that the skits are carried off with at least a modicum of professionalism.

Quite like our OMAXI :)