NEXT LEVEL SKULL AND BONES

Posted in Quick Hits on February 19th, 2014 by Ed

Too wiped out to write what I planned to write for Wednesday, but do make sure you check out the NY Mag piece by a reporter who sneaked into Wall Street's most secret fraternity during its annual induction of new sociopaths.

As I walked through the streets of midtown in my ill-fitting tuxedo, I thought about the implications of what I’d just seen.

The first and most obvious conclusion was that the upper ranks of finance are composed of people who have completely divorced themselves from reality. No self-aware and socially conscious Wall Street executive would have agreed to be part of a group whose tacit mission is to make light of the financial sector’s foibles. Not when those foibles had resulted in real harm to millions of people in the form of foreclosures, wrecked 401(k)s, and a devastating unemployment crisis.

The second thing I realized was that Kappa Beta Phi was, in large part, a fear-based organization. Here were executives who had strong ideas about politics, society, and the work of their colleagues, but who would never have the courage to voice those opinions in a public setting. Their cowardice had reduced them to sniping at their perceived enemies in the form of satirical songs and sketches, among only those people who had been handpicked to share their view of the world. And the idea of a reporter making those views public had caused them to throw a mass temper tantrum.

"Completely divorced themselves from reality" sounds about right. At least the likes of Frick, Cooke, Morgan, and Old Man Rockefeller had no illusions about being anything other than loathsome bastards.