President Biden’s Treasury Secretary – Janet Yellen – signed an ethics agreement on December 29, 2020. By the end of January, she had already broken it.
The agreement, addressed to the U.S. Treasury’s ethics official Brian Sonlon, states:
“The purpose of this letter is to describe the steps that I will take to avoid any actual or apparent conflict of interest in the event that I am confirmed for the position of Secretary, Department of the Treasury. It is my responsibility to understand and comply with commitments outlined in this agreement.”
Within two weeks of the Biden regime taking power, however, Yellen was embroiled in an ongoing scandal surrounding GameStop shares and the companies who sought to profit by billions by first short-selling the stock, then attempting to lock retail users out of apps like Robinhood.
Yellen, 74, was described by Press Secretary Jen Psaki as, “monitoring the situation.” Psaki actually said:
“Well, I’m also happy to repeat that we have the first female Treasury Secretary and a team that’s surrounding her. And, often, questions about market we’ll send to them. But our team is, of course — our economic team, including Secretary Yellen and others, are monitoring the situation.”
But Yellen took hundreds of thousands of dollars in speaking fees from entities such as Citadel, one of the hedge funds seeking to benefit from manipulating the market while others are locked out.
In fact Yellen’s ethics agreement specifically mentions Citadel, which she took nearly a million dollars from in recent years.
Section 6 of her ethics agreement states that Yellen must receive a written authorization to participate personally and substantially in any particular matter involving parties such as Citadel. But Psaki insists Yellen is already dealing with the matter, and “monitoring the situation.” This falls under the description of “actual or apparent conflict of interest.”
Furthermore, Section 7 states:
With regard to each of these entities, I will not participate personally and substantially in any particular matter that to my knowledge has a direct and predictable effect on the financial interests of the entity until I have divested it, unless I first obtain a written waiver, pursuant to 18 U.S.C. § 208(b)(1), or qualify for a regulatory exemption, pursuant to 18 U.S.C. § 208(b)(2). I have verified that I will be able to carry out the divestitures within the timeframe described above.
Whichever way you slice it, Yellen appears to be in some serious trouble. If only Republicans on Capitol Hill would stop just waving Democratic nominees through and actually hold Cabinet nominees and appointees to account, we might see some action.