OF THE
TIMES
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."Yeah Ross, what's not to love about a guy like you.
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.
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.
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