updated: Jan 02 2021, 10:08 ist
President-elect Joe Biden’s choice for Treasury secretary, Janet L. Yellen, collected more than $7 million in speaking fees over the past two years from major corporations and Wall Street banks that have a keen interest in the financial policies she will oversee after her expected confirmation to lead the Treasury Department.
Yellen’s paid speaking appearances which included $9,92,000 from investment bank Citi for nine appearances were among the lucrative payments from a range of Wall Street, Big Tech and corporate interests to three prominent prospective members of the incoming Biden administration.
The payments, revealed in disclosure statements covering the previous two years and released on New Year’s Eve, have caused consternation among progressive activists concerned about the influence of special interests around Biden, who they see as part of a Democratic establishment that has not sufficiently embraced liberal priorities.
Dec. 31, 2020 6:48 pm ET
WASHINGTON Janet Yellen, President-elect Joe Biden’s pick for Treasury secretary, collected more than $7 million in speaking fees during more than 50 in-person and virtual engagements over the past two years, according to financial disclosures released Thursday.
A separate ethics agreement outlined Ms. Yellen’s plans to resign as a consultant to the Magellan Financial Group Ltd. , an investment-fund manager based in Australia, upon her confirmation. Ms. Yellen began consulting for the firm one year after leaving her post as Federal Reserve chairwoman in early 2018.
The agreement said Ms. Yellen would seek special authorization for one year when dealing with matters pertaining to Magellan, according to forms posted online by the U.S. Office of Government Ethics.
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