01/21/2012 12:11 pm ET Updated Mar 22, 2012

A Raucous Hazing At A Wall St. Fraternity -

The chandelier-filled ballroom was teeming with 200 men in tuxedos -- and a smattering of women -- whose daily decisions can collectively make or break the global financial markets. Most were picking over a lavish dinner that included rack of lamb and crème brûlée. Others were preparing to sing bawdy show tunes.

Kappa Beta Phi, an exclusive Wall Street fraternity whose members include big-name bankers, hedge fund billionaires and private equity titans, met at the St. Regis Hotel in Manhattan on Thursday night for its 80th annual black-tie dinner and induction ceremony.