Self-congratulatory award parties are a dime a dozen in the fashion industry, but these days they stand out for the wrong reason. Take, for instance, Fashion Group International’s Night of Stars last night. On a dreary New York evening, a parade of the usual suspects—i.e. Lauren Bush, Francisco Costa, David Yurman—ventured out to swanky Cipriani event space on Wall Street to toast themselves, Gatsby-style. Requisite celebrities Jessica Biel, Daphne Guinness, and Fabiola Beracasa also came out. Who couldn’t use the free press, right? Honorees, meanwhile, included Raf Simons, Giambattista Valli, Kate and Laura Mulleavy of Rodarte, and Ferragamo’s matriarch who was a no-show.

Okay, here’s why we’re being peevish: the glittering group hug was just a diamond’s throw from Occupy Wall Street and a sea of dirty sleeping bags. The irony wasn’t lost on Simon Doonan, who joked (after a sweet eulogy for forgotten stars of decades past) that the after-party would be held at Zuccotti Park. But do they have a VIP section?