Janet Yellen, the former chairwoman of the Federal Reserve who is now His Fraudulency Joe Biden’s Treasury Secretary, made millions off Wall Street “speaking fees” over the past two years.
In some cases, she didn’t even have to show up to speak. Her appearance was “virtual.”
In just two years, according to the Wall Street Journal, Yellen pulled in “more than $7 million in speaking fees during more than 50 in-person and virtual engagements … according to financial disclosures[.]”
The far-left Politico adds:
Yellen listed $952,200 in income from speeches to Citi, one of the nation’s largest banks. She also disclosed speaking fees from PIMCO, Barclays (BCS), Citadel, BNP Paribas, UBS (UBS), Credit Suisse (CS), ING, Standard Chartered Bank and City National Bank.
Nearly a million bucks … from one bank!
Fox Business reports:
Other companies shelling out big bucks for Yellen’s words of wisdom have included Goldman Sachs, Google, City National Bank, UBS, Citadel LLC, Barclays and Salesforce, according to the report.
So when the White House was asked this week if Yellen’s speaking fees have created a painfully obvious conflict of interest as it relates to this Gamestop/Robinhood/Reddit story, Press Secretary Lyin’ Ginger sputtered:
I don’t have anything further for you on it, except for to say, separate from this Gamestop issue, the Treasury Secretary is a world-renowned expert on the economy.
It should not be a surprise to anyone that she was paid to give her expert advice before she came into office.
Oh, well, that certainly puts the issue to rest!
I mean the fact that (as Real Clear Politics perfectly summarized it) “Citadel, the firm that bailed out the first hedge fund to be bankrupted by the crowd-sourced stock-buying bonanza this week, has paid Yellen more than $800,000 in speaking fees in recent years,” is nothing to be concerned about! Not even as we watch a countless number of everyday retail investors getting shut down in an effort to protect Yellen’s billionaire pals at Citadel and elsewhere.
If you want a look at how this grift works, Jack Posobiec tweeted out a bare bones list of Yellen’s Wall Street speaking fees, and this simple list is more striking than any newspaper write-up. The numbers are outrageous. Why would anyone drop hundreds of thousands of dollars to have some former fed chair come in to tell tired war stories and do some punditry?
What I mean by that is: What’s the benefit to the financial firm shelling out all this money (plus airfare and fancy accommodations)?
Even more, what’s the benefit if she appears virtually from her kitchen at home?
Does the presence of a 74-year-old former-Fed Chair bring these financial firms more customers? Does the prestige and star power of such an appearance increase the firm’s client list?
Of course not.
You wouldn’t walk across the street to see Janet Yellen for free, even if free lunch was served.
So what does this tell us about these speaking fees?
Sorry, but these speaking fees are nothing more than America’s elites figuring out a way to legalize bribes and payoffs. That’s it. That’s all that’s going on here.
While it may not be legal for me to hand you an envelope full of cash, it’s perfectly legal for me to fly you out in a private plane (or first class), put you up in a suite, wine you and dine you, and then hand you a gazillion dollar check for an hour’s work because wink-wink-nod-nod-knowwhatImean-knowwhatImean?
We see the same thing all the time with book advances.
Some pol is paid an exorbitant amount of money to write a ghost-written book no one reads…
In 2014, Gov. Andrew “Grandma Slayer” Cuomo (D-NY) was paid a $783,000 advance by Harper Collins to write his memoirs, which sold exactly 3,800 total copies. Harper Collins lost a fortune.
So why did the company do it?
Why would a publisher be willing to take a beating like that?
Gee, could it be that Harper Collins is New York-based and Cuomo is New York’s governor and this was a legal way to funnel him close to a million dollars in the form of legalized graft?
It gets worse…
Cuomo has so far refused to disclose how much Penguin Random House paid for his 2020 book American Crisis: Leadership Lessons from the COVID-19 Pandemic last year, but what we do know is that another major publisher gave this proven-failure of an author a second money grab.
The whole system is rigged, y’all.
The political media, the politicians, the government, and the financial media all attack who? The robber barons in these hedge funds who organize to make billions by destroying a company? No, they illegally shut down and smear the everyday guys on Reddit who had the temerity to play the same game and win.
Funnel a few million to Yellen, give CNNLOL and CNBC some nifty stock tips… That’s all it costs Wall Street to protect its billions and destroy the Reddit barbarians, whose only sin is outsmarting you.
And it’s all legal.
Rigged. Rigged. Rigged.
Follow John Nolte on Twitter @NolteNC. Follow his Facebook Page here.
Please let us know if you're having issues with commenting.