Story highlights
The filings by Bidenâs team offer another glimpse of Washingtonâs longtime revolving door. Officials whose parties have lost power monetize their insider expertise and connections in the private sector, then head back into government when their party retakes the White House
President-elect Joe Bidenâs 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.
Yellenâs paid speaking appearances â which included $992,000 from investment bank Citi for nine appearances â 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.
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.
“When the pandemic hit, it was a whole new approach because the PPP loan program was really a grant delivered through banks, it wasn’t traditional SBA lending,” said Hulit. “But anybody with experience working with the bureaucracies of the SBA understood how to better implement the program and deliver it efficiently.”
Experience Hulit acquired as Acting Director of the U.S. SBA under President Barack Obama, during the last economic recession where the agency played a critical role in the American Recovery and Reinvestment Act, an essential bill for small businesses to receive capital.
She is currently a member of the Maine Bankers Association executive committee and has been in Maine’s banking sector for 25 years, before that she worked in state government and in the non-profit community.
Financial and Business Life | Daily Telegraph dailytelegraph.com.au - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from dailytelegraph.com.au Daily Mail and Mail on Sunday newspapers.
Donald Trump s Oval Office guest, ex-Overstock CEO Patrick Byrne, spreads conspiracy theory that Nashville suicide bombing was a missile strike on a spy hub
President Donald Trump s ally Patrick Byrne, the former Overstock.com CEO, tweeted out a conspiracy theory Sunday about the Nashville bombing
Byrne shared a webpage that said the Tennessee city was hit by a missile strike to take out a spy hub used by AT&T and the National Security Agency
The theory also said that the building was targeted to halt a Dominion voting machines audit, linking the 2020 election to the Christmas day blast