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If Janet Yellen gets confirmation from the Senate to become Joe Biden’s treasury secretary, she could see a dramatic reduction in revenue.
Since leaving the Federal Reserve in 2018, after serving as its president since 2014, Yellen has raised more than $ 7 million as a speaker for Wall Street firms and other corporations, disclosure reports reveal.
Yellen received almost $ 1 million from Citi alone, after giving nine speeches to the bank, according to Politico.
Other companies that have spent a lot on Yellen’s words of wisdom include Goldman Sachs, Google, City National Bank, UBS, Citadel LLC, Barclays and Salesforce, according to the report.
Yellen made a total of more than 50 speeches for companies, The Wall Street Journal reported.
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In the meantime, she plans to resign from a position at Australia’s Magellan Financial Group if confirmed for Treasury, the newspaper said.
It was not clear whether Yellen’s revelations would cause problems with the Democrats in Congress who supported her, including Senator Elizabeth Warren, D-Mass., Who considered Yellen an “excellent choice” to lead the Treasury, the Politician said.
Warren had previously complained about a “revolving door” for employees who come and go between public jobs and lucrative positions in the private sector.
Financial disclosure information about Yellen – and two other Biden nominees – was posted on Thursday evening by the Office of Government Ethics after the Biden team made the data available sometime “in the middle of the week,” the report said. Political.
Biden’s other nominees were Anthony Blinken, the choice of president-elect for secretary of state, and Avril Haines, his choice for director of national intelligence.
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Blinken released a list of companies he consulted through WestExec Advisors, a company made up of several former members of the Obama administration, Politico said. Its clients include Bank of America, Facebook, Uber, Boeing, AT&T and LinkedIn.
He also made plans to dispose of WestExec and associated units if confirmed to join the Biden Office, Politico said. The company has paid him nearly $ 1.2 million in the past two years, with up to $ 500,000 still owed to him, the report said.
Haines reported $ 180,000 in consulting fees from Palantir, a Silicon Valley company founded by Peter Thiel, known as a conservative supporter of President Trump.