Wall Street's secret society, Kappa Beta Phi, is not much of a secret. Everyone knows about it, especially the media, which loves to write about it nonetheless. It's an annual rite: the media tries to sneak in while members try to keep them out.

Bloomberg was there briefly, just long enough to get kicked out. The reporter was confronted with a picture of himself from his Facebook account. But he still filed an article noting that the banking fraternity includes some big names, but perhaps not its biggest. Lloyd Blankfein, CEO of Goldman Sachs, is not a member.

The fraternity amounts to a bunch of rich guys at play, but the organization has accepted women for a while now. Sallie Krawcheck and Meredith Whitney are among the most recognizable female members. Whitney once  sang a piece called "Sweet Home 85 Broad," to the tune of "Sweet Home Alabama" which lampooned Goldman Sachs. For the most part, this seems harmless--guys dressing up like women, giving themselves titles like Grand Swipe and such.

The Kappa Beta Phi annual event seemed to suffer just a bit during the financial crisis. But this year's event was festive enough by the looks of things.

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