President-elect Joe Biden’s nominee to head the Treasury Department, Janet Yellen, raked in millions from Wall Street firms and multinational corporations for “speaking fees” over just the past two years, financial disclosure reports reveal.
Between 2019 to 2020, Yellen accepted more than $7.2 million from Wall Street firms and big banks like Citibank, Bank of America, Citadel, Barclays, ING, UBS, and Goldman Sachs, as well as multinational corporations like Deloitte, Google, Salesforce, and HSM.
Yellen, former Federal Reserve chair for President Barack Obama, took nearly $1 million to give nine speeches to Citibank — which is one of the largest banks in the United States. Likewise, Yellen accepted more than $800,000 from the hedge fund Citadel.
Yellen’s speaking fees from Wall Street firms and corporations range anywhere between $17,100 to nearly $300,000, according to the financial disclosures. Her latest paid speeches came in November 2020 when she cashed in $67,500 in fees from Deloitte, $72,000 from Daiwa Securities Group, and $45,000 from Magellan Financial Group.
Biden tapped Yellen as his nominee to lead the Treasury Department where she would become the first woman to lead the agency if confirmed by the U.S. Senate. Glenn Greenwald, an independent journalist, called Democrats “a neoliberal party” that “hide” behind diversity to avoid questions regarding cronyism.
“The Dems are a neoliberal party which serves Wall St & corporate power,” Greenwald wrote on Twitter. “They are overwhelmingly led by extremely rich people who serve these power centers. Touting diversity is how they try to hide that, and bad faith bigotry accusations are how they punish those who report it.”
“If you’re embarrassed that your party just put in charge of the Treasury Dept. someone who got wildly rich by collecting $250k checks from Wall St for 1 hour of ‘work,’ then pressure your party to change,” Greenwald said. “Don’t exploit misogyny smears to try to deter reporters from revealing it.”
John Binder is a reporter for Breitbart News. Follow him on Twitter at @JxhnBinder.