Kappa Beta Phi is a sorority for ultra-rich power brokers on Wall Street, and this year it’s returning to its roots, reports the Wall Street Journal. After all, it was first established in 1929 just before that year’s market crash, and the fraternity spent the following years helping its members cope with the depression. At its latest meeting last week, the society turned to drink and dark humour for solace in the face of mass layoffs and bank failures. “I feel like the mayor of New Orleans after Katrina,” said Alfred E. Smith IV, the group’s leader, or “Grand Swipe,” to start things off. Later on in the meeting at the St. Regis, a century-old hotel on Fifth Avenue, a boozy rendition of Don McLean’s ‘American Pie’ rewritten to ‘Bye, bye to my piece of the the pie’ got a standing ovation.
'Bye, Bye to My Piece of the Pie'
Sorority for ultra-rich power brokers on Wall Street turn to drink and dark humour
FILED UNDER: Business