Janet Yellen’s Cash Haul of $7 Million Is Just the Tip of the Iceberg; She Failed to Report Her Wall Street Speaking Fees from JPMorgan and Others in 2018 — Pam and Russ Martens

Yellen is Biden’s nominee for U.S. Treasury Secretary. In anticipation of her Senate confirmation hearing, she has released her financial disclosure forms which showed a windfall of more than $7 million in speaking fees since she left her position with the Federal Reserve. The bulk of that money came from Wall Street firms, which are variously regulated and bailed out by the Fed.

Our question for Yellen is an uncomfortable one: why did her financial disclosure form report her cash haul from Wall Street’s serially charged trading houses for just the years 2019 and 2020 when common sense suggests her biggest haul would have been in 2018, when her knowledge of the thinking at the Fed was most timely.

Yellen stepped down as Chair of the Federal Reserve on February 3, 2018 when President Trump failed to renominate her for the position of Chair. Yellen was a Fed Governor before becoming its Chair and that term didn’t expire until 2024. Yellen could have remained at the Fed and functioned as a public servant. Instead, in the very same month that she stepped down at the Fed, she signed an exclusive contract with the Washington Speakers Bureau....

Not like this is limited to Wall Street. Defense contractors famously reward retiring generals with cushy jobs, consulting fees and directorships. Quid pro quo?

Wall Street On Parade
Janet Yellen’s Cash Haul of $7 Million Is Just the Tip of the Iceberg; She Failed to Report Her Wall Street Speaking Fees from JPMorgan and Others in 2018
Pam Martens and Russ Martens