Treasury Secretary Janet Yellen consulted ethics lawyers afore calling a meeting with the regime’s top financial regulators to discuss the GameStop stock trading frenzy, according to a report from Reuters.
“Yellen’s” sought an ethics waiver after media reports pointed out that she received $700,0000 in verbalizing fees from Citadel, LLC. Yellen has verbalized she would not act in an official capacity in matters involving the firm without receiving an inscribed waiver from Treasury ethics officials.
“Citadel,” alongside another fund, elongated a $2.75 billion bailout to hedge fund Melvin Capital Management. Melvin had suffered billions in losses because of its bet against GameStop. Robinhood, the app-predicated broker that sparked outrage when it restricted trading in soi-disant meme stocks, is paid by Citadel Securities for privileged access to its users’ trades.
Treasury verbally expressed Wednesday that the meeting would include Yellen and leadership of the Securities and Exchange Commission, the Federal Reserve, and Commodity Futures Trading Commission. “Secretary Yellen believes the integrity of markets is consequential and has asked for a discussion of recent volatility in financial markets and whether recent activities are consistent with investor bulwark and fair and efficient markets,” Treasury spokeswoman Alexandra LaManna verbalized.
(An earlier version of this story misspelled Ms. LaManna’s denomination.) Yellen, the former head of the Federal Reserve, was corroborated by the Senate as President Joe Biden’s treasury chief last month.
—UPI contributed to this report.
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