The revolving door is an interesting situation because not many will know who is who and why it matters. In 2008, countless people from Goldman Sachs and other major financial institutions worked in government positions, back and forth, in one company and onto the next. When the crisis was over, it was time to rebuild. In order to reform the system, the government called upon the very same people who created the mess in the first place. You know not only was it not resolved, you should have realized they certainly do control everything.
Yellen Summons Regulators to Discuss Financial Market Volatility – Bloomberg
Yellen Earned $7.2 Million In Speaking Fees Over Last Two Years
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, a record that will force Yellen to seek permission before working at Treasury with some of Wall Street’s largest financial institutions.
Biden’s Revolving Door – The Daily Poster
When President-elect Joe Biden’s Treasury Secretary nominee Janet Yellen disclosed that she accepted big speaking fees from major corporations and industry groups, many liberal pundits quickly defended her and suggested the revelations are not newsworthy. However, The Daily Poster has found that many of those same companies and groups have been lobbying the agency Yellen has been selected to run.
yellen speaking fees 3_0.jpg (1154×701)
Jessica Grace on Twitter:
“Janet Yellen accepted $810,000 in speaking fees from Citadel, owner of Robinhood.
Reporter: Are there any plans to recuse herself from advising the President on GameStop and Robinhood situation?
Psaki: ‘No and she’s an expert and deserves that money.’
https://t.co/fvn1Chu30P” / Twitter
Janet Yellen accepted $810,000 in speaking fees from Citadel, owner of Robinhood. Reporter: Are there any plans to recuse herself from advising the President on GameStop and Robinhood situation?Psaki: ‘No and she’s an expert and deserves that money.’ pic.twitter.com/fvn1Chu30P
Mudrick Capital Gains $200 Million on AMC, GameStop Bets – BNN Bloomberg
(Bloomberg) — Jason Mudrick’s hedge fund reaped almost $200 million on its stakes in firms that skyrocketed during a Reddit-fueled trading frenzy in recent weeks, according to people familiar with the matter.
“The Fed’s Monetary Punchbowl Is Fueling Rampant Home Price Appreciation”: AEI | Wolf Street
During the press conference following the FOMC meeting last week, Fed Chair Jerome Powell was asked by different reporters about the craziness going on in the stock market, the chaotic thingy with GameStop, corporate debt, and the housing market.
AEI housing market indicators, February 2021 | American Enterprise Institute – AEI
Fed’s Mester says more fiscal help may be needed in short term | Reuters
While easy monetary policy can support the U.S. economy in the long term, more fiscal help may be needed in the short term to carry the economy through the pandemic, Cleveland Federal Reserve Bank President Loretta Mester said on Wednesday.
American Airlines sending 13,000 furlough warnings as pandemic pain persists | Reuters
(Reuters) – American Airlines said on Wednesday that some 13,000 employees are at risk of furlough when a U.S. aid package for airline workers expires on April 1, blaming slow vaccine rollouts and new international travel restrictions for dampening demand.
The financial system is seeing a massive uptick, massive flows o money, cash, debt into equities. More stimulus is on the way. This is in every form. Money printing from the central banks but also stimulus packages from the government itself. The expectation is that this will reflate the economy, pushing more money into stocks for those who have the disposable income.
— APPENDICES —
— The Money GPS: GME and AMC attracted many buyers. Illiquid stocks/micro cap stocks are now trendy. Be careful. (Instagram Feb 4, 2021)
— The Money GPS: Wall Street Bets on Reddit is adding millions of people. Retail traders needed to keep the prices going higher. (Instagram Jan 30, 2021)
— The Money GPS: Jim Cramer says don’t go for grand slam. What do you think? (Instagram Jan 29, 2021)
— The Money GPS: Find a company you thought was no longer in business, buy some shares, get rich quick. Is that what’s seriously happening right now?! (Instagram Jan 29, 2021)
— The Money GPS: Investing legend says bad things are coming because paper printing does not create an economy. (Instagram Jan 22, 2021)
— The Money GPS: The purpose of big tech is to absorb your data. Not to provide a service and later take advantage of you. Look up In Q Tel. (Instagram Jan 21, 2021)
— The Money GPS: To get where you want to be, you have to know where you are now. (Instagram Jan 4, 2021)
— The Money GPS: Master one thing before moving on. Know where you are in the cycle. (Instagram Dec 15, 2020)
— The Money GPS: Be a better investor | How to be a better investor. Window shop! (Instagram Dec 12, 2020)
— FOOTNOTES —
Wake up to the suits and ties. They’re all lying to you. None are your friends. None wish to help you. Wolves in sheep clothing. More distractions than ever before. The magician always makes a spectacle to hide the trick.
UNEMPLOYMENT RATE DROPS TO 6.3%. Of course that’s the seasonally adjusted number they like to show. Of course that doesn’t include all of the people who have left the workforce, the underemployed, the people who have fallen off the statistic. But who cares, right? #unemployed
Powell was just asked about GameStop stock. Said he doesn’t want to comment. Yea… We know you don’t want to comment on it because you’ve created this madness. David Liesman asked a follow up, specifically asked him to talk about super low rates creating a bubble #gamestop pic.twitter.com/JF0mPhS9PY
Powell: “The real unemployment rate is close to 10% when you include those who have left the labor force” Money printing does not impact asset prices. Stocks and low interest rates not very correlated #gamestop pic.twitter.com/qruhSmyBZL
We live in a fantasy land. More money flowing in than ever before, IPO frenzy, housing skyrocketing. Euphoria never end well. The higher it goes the worse it will be. Slow and steady growth is much safer. #money #investments #debt
IF THEY WILL FIGHT OVER PLAYSTATION…What would they do for food? #ps5 #PlayStation5 #playstation #ps5fight #walmart pic.twitter.com/hbimVKzeta
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The Money GPS is the most active, most informative channel in the financial world. Day after day, breaking down the data and making it easy to understand. This channel is not here to help build a portfolio, give stock picks, or financial advice. It’s simply data that is generally not found through conventional means.
The statements, views and opinions expressed in this column are solely those of the author and do not necessarily represent those of The Duran.