A New Chapter for the Next Generation on Wall Street?

Thursday, February 20, 2014

Traders work on the floor of the New York Stock Exchange on December 20, 2011 in New York City. (Spencer Platt/Getty)

Wall Street is a place that's hard to make your way into and even harder to find your way out of.

And within this world of exclusivity is a whole other layer of brotherhood, and that's the Wall Street fraternity called Kappa Beta Phi.

Kevin Roose recently sneaked his way into a black tie Kappa Beta Phi event and wrote about this experience for New York magazine. He found that young inductees to Wall Street are entering a very different environment today than a decade ago. 

In addition to being a writer for New York magazine, he's also the author of the new book "Young Money: Inside the Hidden World of Wall Street's Post-Crash Recruits," which explores this new generation of Wall Streeters, and the culture of fear and extravagance that accompanies the job.

Guests:

Kevin Roose

Produced by:

Ellen Frankman and Arwa Gunja

Editors:

T.J. Raphael

Comments [3]

Larry Fisher from Brooklyn,N.Y.

Wall Street builds walls and looks for loopholes in order to cut corners without caring of consequences, journalists enter these battle zones, hoping not to step on landmines,but hoping to reveal "the game."

Feb. 20 2014 11:00 AM
Larry Fisher from Brooklyn,N.Y.

@Joe...I'm mad as hell and can't take it anymore!

Feb. 20 2014 10:46 AM
joe

Hockenberry wonders whether there has been a change in the wall street/banking culture and if regulations and enforcement mechanisms can ever be truly sufficient but does he ever fret over the culture of journalists like himself who have an inexhaustible moral appetite for critiquing wall street but rarely if ever question the role of people like Barney Frank who they revere and abetted over the many years he did his mischief? Would he ever consider doing a segment on the irony of the reform bill being named 'Dodd Frank'? Has the economic meltdown occasioned any soul searching among liberal journalists and the homogeneously liberal organizations like NPR beyond their re-commitment to advancing the message that it was the result of late-stage capitalism and the dangers of under regulation? Any room for the radical notion that it was a response to government distortion of the markets replete with the kind of corruption and cronyism journalists usually love when committed by republicans. (I notice that the Obama administrations FCC seems to think you guys need some more regulation and oversight too! although I am sure they will hear little that displeases them in your newsroom)

Feb. 20 2014 09:48 AM

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