WH Ignores Question About Yellen Taking $800k In Speaking Fees From Firm That Bailed Out Loser Hedge Fund In Gamestop Affair

WH Ignores Question About Yellen Taking $800k In Speaking Fees From Firm That Bailed Out Loser Hedge Fund In Gamestop Affair

White House press secretary Jen Psaki avoided answering a question during Thursday’s briefing about whether newly confirmed Treasury Secretary Janet Yellen should recuse herself from advising the president on issues related to the developing Gamestop/Robinhood/Reddit stock trading scandal.

Citadel, the firm that bailed out the first hedge fund to be bankrupted by the crowd-sourced stock-buying bonanza this week, has paid Yellen more than $800,000 in speaking fees in recent years.

After it was reported that Yellen was on the phone all day Wednesday talking to key players involved in all aspects of the scandal, most commercial trading platforms stopped the buying of more stocks involved in the ruckus on Thursday morning.

REPORTER: With the markets and everything that is happening with Gamestop, you did mention yesterday that the Treasury Secretary is monitoring the situation and she is on top of it.

There have been some concerns about her previous engagement with Citadel, and speaking fees she has received from Citadel. Are there any plans to have her recuse herself on advising the president on Gamestop in the whole Robinhood situation?

JEN PSAKI, BIDEN ADMIN: To be clear, what I said is that the Treasury Secretary is now confirmed. Obviously, we have a broader economic team. The FCC put out a statement yesterday that I refered to.

I don’t have anything further for you on it, except for to say, separate from this Gamestop issue, the Treasury Secretary is a world-renowned expert on the economy.

It should not be a surprise to anyone that she was paid to give her expert advice before she came into office.

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