Chill Crow News
  • Home
  • News

    Trending Tags

      • Business
      • Politics
      • World
    • Entertainment

      Amanda Gorman Reveals Why Michelle Obama Yelled at Barack Throughout the 2021 Inauguration – E! On-line

      Nikki Bella Is Battling Postpartum Melancholy on Complete Bellas However Will not Inform Artem – E! On-line

      Rihanna Lingerie Video Leaks; Twitter Calls Her Butt ‘FLAT’!! (Video)

      Olympic Gymnast Gabby Douglas Unveils ALLEGED New Nosejob!!

      Why Teen Mother’s Catelynn Lowell and Tyler Baltierra “By no means Remorse” Inserting Carly for Adoption – E! On-line

      Jerry Seinfeld Speaks Out as Notorious Larry King Interview Resurfaces After His Loss of life – E! On-line

      Raz B: Marques Houston Is A Creep!!

      Trending Tags

      • Tech

        AHKShortcutLikeMac provides many helpful keyboard shortcuts to Home windows

        Ghacks Offers: The Full 2021 CompTIA Certification Coaching Bundle (98% off)

        Sony’s New Xperia Professional Smartphone Is a $2,500 Digital camera Accent

        Apple Warns Clients Towards Utilizing the iPhone 12 Close to a Pacemaker

        What to Anticipate From Intel’s eleventh Era Rocket Lake

        The 7 Planets of TRAPPIST-1 Have Surprisingly Comparable Properties

        Here’s what is new and adjusted in Firefox 85.0

        Trending Tags

        • Covid-19
        • About
        Tuesday, January 26, 2021
        No Result
        View All Result
        • Home
        • News

          Trending Tags

            • Business
            • Politics
            • World
          • Entertainment

            Amanda Gorman Reveals Why Michelle Obama Yelled at Barack Throughout the 2021 Inauguration – E! On-line

            Nikki Bella Is Battling Postpartum Melancholy on Complete Bellas However Will not Inform Artem – E! On-line

            Rihanna Lingerie Video Leaks; Twitter Calls Her Butt ‘FLAT’!! (Video)

            Olympic Gymnast Gabby Douglas Unveils ALLEGED New Nosejob!!

            Why Teen Mother’s Catelynn Lowell and Tyler Baltierra “By no means Remorse” Inserting Carly for Adoption – E! On-line

            Jerry Seinfeld Speaks Out as Notorious Larry King Interview Resurfaces After His Loss of life – E! On-line

            Raz B: Marques Houston Is A Creep!!

            Trending Tags

            • Tech

              AHKShortcutLikeMac provides many helpful keyboard shortcuts to Home windows

              Ghacks Offers: The Full 2021 CompTIA Certification Coaching Bundle (98% off)

              Sony’s New Xperia Professional Smartphone Is a $2,500 Digital camera Accent

              Apple Warns Clients Towards Utilizing the iPhone 12 Close to a Pacemaker

              What to Anticipate From Intel’s eleventh Era Rocket Lake

              The 7 Planets of TRAPPIST-1 Have Surprisingly Comparable Properties

              Here’s what is new and adjusted in Firefox 85.0

              Trending Tags

              • Covid-19
              • About
              No Result
              View All Result
              Chill Crow News
              No Result
              View All Result
              Home World

              Janet Yellen made thousands and thousands giving speeches to Wall Avenue banks she’ll quickly regulate

              admin by admin
              January 6, 2021
              in World
              0
              Janet Yellen made thousands and thousands giving speeches to Wall Avenue banks she’ll quickly regulate
              0
              SHARES
              2
              VIEWS
              Share on FacebookShare on Twitter


              The former chair of the Federal Reserve hauled in nearly $1 million alone in multiple speeches to Citigroup (C), according to financial disclosure documents filed last week. Since stepping down from the Fed in early 2018, Yellen has also given paid speeches to other companies, including Google, Goldman Sachs, Bank of America and Salesforce.

              It’s common for former government officials, including Fed leaders, to make money by giving speeches that share their insights on the economy and policy. However, the disclosure of Yellen’s lucrative speaking fees is awkward because she could soon be Biden’s point person on the economy and finance.

              If confirmed as Treasury secretary, Yellen will have enormous sway over everything from taxes and climate to tariffs and government spending. Yellen would also chair a team of US regulators that responds to emerging risks in the financial system.

              “This disclosure dovetails with some broader Democratic concerns regarding the revolving door and the access certain financial services firms have to top policymakers,” Isaac Boltansky, director of policy research at Compass Point Research & Trading, said in an email.

              Big bank speeches

              The fact that the majority of Yellen’s speaking fees were from the financial industry could raise concerns that she is too cozy with Wall Street.

              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.
              “The next Treasury Secretary making millions off of the biggest banks, PE firms, tech companies, etc. raises serious red flags,” The Revolving Door Project, a progressive group that tracks conflicts of public officials, wrote on Twitter.

              The group called on Yellen to publish “in full” all of her paid speeches — a disclosure that would explain whether she was “merely opining on the markets, or offering lobbying/policy advice.”

              Former government officials have been criticized for their post-politics relationships with big banks and corporations.

              During the 2016 campaign, then-candidate Donald Trump criticized his opponent, former Secretary of State Hillary Clinton, for making millions off speeches to banks, securities firms and trade associations. The transcripts of some of those speeches were released by WikiLeaks.
              Saying goodbye to a wild year for stocks

              The Biden transition team downplayed concerns about Yellen’s income from Wall Street and noted that some speeches were moderated or covered by journalists.

              “Take a look at her record on enforcement — this is not someone who pulls punches when it comes to bad actors or bad behavior,” a Biden transition official told CNN Business.

              Yellen appealed to some progressives in part because of her crackdown on Wells Fargo (WFC). In February 2018, the Yellen-led Fed imposed unprecedented growth restrictions on Wells Fargo, penalties the scandal-ridden bank has yet to recover from.

              “She didn’t hesitate to tell some audience that the rules governing their business should be tougher and more stringent — and it could create problems for the economy otherwise,” the Biden transition official said.

              Avoiding conflicts of interest

              However, transcripts of Yellen’s speeches to Wall Street banks have not been made public. And the Biden transition official did not immediately provide specific examples of Yellen telling companies that rules may need to be toughened.

              In a recent letter to ethics officials, Yellen pledged to take steps to “avoid any actual or apparent conflicts of interest” if she’s confirmed to lead the Treasury Department.
              Specifically, Yellen promised that no later than 90 days after confirmation she will sell her stakes in several major companies, including Pfizer (PFE), Raytheon (RTN), DuPont (DD), ConocoPhillips (COP) and CNN parent AT&T (T).

              Additionally, Yellen plans to resign from the Washington Speakers Bureau, which has represented the former Fed chief in paid speeches.

              Yellen also wrote that for a period of one year after her last speech she plans to recuse herself from matters related to several companies, including Salesforce (CRM), Principal Financial and Japanese investment bank Daiwa Securities. Yellen said she will “not participate personally or substantially in any particular matter” unless she is authorized to.
              However, Yellen also signaled she will seek written authorization to participate in matters related to other companies she earned speaking fees from, including Barclays, Citi (C), Citadel, Credit Suisse and Goldman Sachs (GS).

              Confirmation not in doubt

              Analysts said the disclosures are unlikely to derail Yellen’s confirmation by the US Senate.

              “Yellen will face questions on these speeches during the confirmation process, but it’s difficult to envision this disclosure impacting her odds of becoming Treasury Secretary,” Boltansky said. “The fact is she did absolutely nothing wrong and she will still cruise to confirmation.”

              Yellen’s forms ran 21 pages and included her stamp collection, which was estimated to be worth between $15,001 and $50,000.

              Other former Fed officials have similarly hauled in lucrative speaking fees after leaving the US central bank. For example, Ben Bernanke, who led the Fed through the 2008 financial crisis, made as much as $250,000 per speech at one point. In 2015, Bernanke was hired as a senior adviser to Chicago-headquartered hedge fund firm Citadel — a role he still holds today.
              Trump regulators leave a warning for the Biden team
              Biden’s nomination of Yellen has received widespread support, including from progressive leaders like Senator Elizabeth Warren. Even some Republicans such as Senator Chuck Grassley and Senator John Thune spoke positively about Yellen.

              Greg Valliere, chief US policy strategist at AGF Investments, doubts the speaking fees will prevent Yellen from becoming the first woman to lead the US Treasury Department.

              “She has such a reservoir of goodwill on Capitol Hill that she will easily win confirmation,” Valliere said.



              Previous Post

              How the Zoey’s Extraordinary Playlist Shook Up Zoey’s Complete World – E! On-line

              Next Post

              DeVonta Smith Turns into First Receiver To Win The Heisman Trophy Since 1991

              Next Post

              DeVonta Smith Turns into First Receiver To Win The Heisman Trophy Since 1991

              Leave a Reply Cancel reply

              Your email address will not be published. Required fields are marked *

              DaBaby Plans To Retire In 5 Years

              December 31, 2020
              Indonesia grapples with earthquake, flooding, landslides and fallout from Sriwijaya Air crash

              Indonesia grapples with earthquake, flooding, landslides and fallout from Sriwijaya Air crash

              January 18, 2021

              I am all locked down with nowhere to go – however that hasn’t killed my lust for trend | Trend

              January 23, 2021

              Banking mistaken on company homes: Why destiny of banking, public finance is unsure

              December 30, 2020
              Iran unveils underground missile base on Gulf coast, state media says

              Iran unveils underground missile base on Gulf coast, state media says

              January 8, 2021

              BioNTech criticises EU failure to order sufficient Covid vaccine | Coronavirus

              January 1, 2021

              PM Modi flags off 8 trains with linkage to Statue of Unity in Gujarat

              January 17, 2021

              No, massive enterprise hasn’t all of a sudden come to Jesus about Trump

              January 13, 2021

              Ella Emhoff: The inauguration’s breakout style star

              January 25, 2021

              Mexican president says he has Covid-19

              January 25, 2021

              ‘Insecure’ Is Ending After Season 5, Issa Rae Confirms

              January 14, 2021

              South Korean former Olympic skating coach jailed for 10 years over abuse

              January 23, 2021

              Gold Enamel Rotted Rapper Plies Current Smile; Obtained Enamel Alternative! (Pics)

              January 17, 2021

              Mob assaults and units ablaze a Hindu temple in northwestern Pakistan

              December 31, 2020

              WATConsult launches ‘Bharat by WATConsult’

              January 12, 2021

              ‘Pink Desk Speak’: Survivors Of Suicide Speak About What They’ve Discovered In Order To Assist Others

              January 2, 2021
              Chill Crow News

              We bring you the best Premium WordPress Themes that perfect for news, magazine, personal blog, etc. Check our landing page for details.

              Categories

              • Business
              • Covid-19
              • Entertainment
              • Politics
              • Tech
              • World

              Recent News

              Wings Over Scotland | An empire constructed on lies

              Wings Over Scotland | An empire constructed on lies

              January 26, 2021
              China is rehearsing for when it overtakes America

              China is rehearsing for when it overtakes America

              January 26, 2021

              © 2020 Chill Crow News - All rights reserved by Chill Crow News.

              No Result
              View All Result
              • Home
              • Entertainment
                • Sports
              • News
                • Politics
                • World
              • Tech

              © 2020 Chill Crow News - All rights reserved by Chill Crow News.