In Historic First, Janet Yellen Becomes First Female Treasury Secretary To Request Ethics Waiver For Wall Street Speaking Fees.

Treasury Secretary Janet Yellen sought and received an ethics waiver before she called a meeting between top federal regulators to discuss market volatility surrounding GameStop and other so-called meme stocks, according to Reuters.

Yellen’s move to obtain an ethics waiver followed reports that she received more than $800,000 in speaking fees from Citadel, a hedge fund directly connected to the GameStop saga. Citadel is invested heavily in Melvin Capital, another hedge fund that saw 53% of its $12.5 billion portfolio wiped away in January amid the GameStop short squeeze.

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Citadel contributed to a $2.75 billion investment in Melvin Capital last week as its heavily-shorted position in GameStop got crushed amid the retail trader-driven short squeeze.

Citadel had paid Yellen $292,500 for a speech on Oct. 17, 2019, another $180,000 for a speech on Dec. 3, 2019, and $337,500 for her appearances during a series of webinars between Oct. 9-27, 2020, the Daily Caller News Foundation previously reported.

Yellen made history on Jan. 25 when the Senate confirmed her to serve as the first female Treasury secretary.

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dailycaller.com/2021/02/03/janet-yellen-ethics-waiver-gamestop/

 

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