A Republican lawmaker accused Treasury Secretary Janet Yellen of mass corruption after the latter allegedly received millions before she took the office.
During the broadcast of the Fox Business Network’s “Evening Edit” on Tuesday, the GOP representative blasted the Treasury Secretary.
According to Rep. Greg Steube (R-FL), there is a “level of corruption in Washington” that “is beyond the pale.”
Steube also reportedly referred to allegations that Treasury Secretary Janet Yellen had received about $7 million in speaking fees which include from major financial institutions “that she’s going to decide to bail out,” prior to her position as the Treasury Secretary of the country.
The controversy arose after Fox Business Host Elizabeth MacDonald began her interview, saying “I’ve been covering bank crises since the ’80s, S&L crisis, then Long-Term Capital Management, then the 2007 — the dotcom bust, they did corporate accounting scandals, then in 2007-2008, Congressman, nobody ever said back up uninsured deposits ever.”
Let’s not forget @SecYellen was laid over $7M in speaking fees from banks since leaving the Federal Reserve and before becoming Treasury Secretary. Citi paid for 9 speeches. Also, Goldman Sachs, Credit Suisse, Deloitte, etc.https://t.co/anFJqdd7ng— John E Deaton (@JohnEDeaton1) March 19, 2023
MacDonald also claimed that “this is because of a few banks that made bad bets, and all of a sudden, the Biden White House gets to change the rules that have been the gold standard forever, when even FDR said do not insure bank deposits, bankers will roll the dice and ruin things.”
Following her statement, she asked Steube “where do you go from here, Congressman, will you guys try to stop this push that’s now — it’s moving, that could happen? What do you think?”
In response, the Republican claimed that “we will absolutely, in the House and Chair McHenry (R-NC), we were all together, the caucus was together in Orlando today. And he said he doesn’t support bank bailouts. He didn’t support it before. He doesn’t support it now. That’s the Chairman of the Financial Services Committee. You’re not going to not see the Republicans support that at all.”
He then went on to claim that “what I find very interesting is Yellen herself got millions of dollars, $7 million in speaking fees before where she’s at now from some of the banks that she’s going to decide to bail out. The level of corruption in Washington is beyond the pale.”
In a report published by Forbes in 2021, it was revealed that “Janet Yellen, President-elect Joe Biden’s nominee for treasury secretary, has earned more than $7 million in speaking fees from banks and large companies since leaving the Federal Reserve in 2018.”
