Free Republic
Browse · Search
Bloggers & Personal
Topics · Post Article

Skip to comments.

Video: GameStop Gate – WH Press Secretary Defends Treasury Secretary Taking Money From Citadel
Right Journalism ^ | 01.28.2020 | Michelle M.

Posted on 01/28/2021 2:48:13 PM PST by USA Conservative

Janet Yellen, President-elect Joe Biden’s pick for Treasury secretary, collected more than $7 million in speaking fees during more than 50 in-person and virtual engagements over the past two years, according to financial disclosures released Thursday.

Her fees came from Citadel too – which has invested billions of dollars in the primary hedge fund now suffering as a result of the GameStop stock surge.

Yellen’s financial disclosures reveal over 60 speeches to financial firms, and items 25, 29, and 49 on the list shows her receiving a sum of $810,000 from Citadel in speaking fees. Image below:

On Thursday, Robinhood, an online brokerage firm, blocked retail investors trading GameStop and other stocks – a clear manipulation – in order to stop the bleeding and protect Citadel, a multinational hedge fund with a vested interest in Robinhood.

Citadel and Point72 infused nearly $3 billion into Melvin Capital, a hedge fund that took a beating after betting against GameStop as Reddit traders caused GME to soar.

A person who purports to be a Robinhood employee (unconfirmed) blew the whistle on a conversation that went down with the brokerage firm’s C-Suite, Sequoia Capital (a venture capital firm that focuses on tech), AND THE WHITE HOUSE.

Image from his statement below:

The stock manipulation is a scandal in itself but if the White House was involved and pressured the online brokerage firms to halt trading, the scandal will officially be HUGE.

Was Janet Yellen involved in the halting of trading in order to protect Citadel, a hedge fund that previously paid her nearly $1 million in speaking fees?

The move has been widely viewed as protecting Wall Street hedge funds, whom Yellen has made millions speaking from, while “selling out” the little guy.

Citadel recently funneled billions into Melvin Capital Management according to The Wall Street Journal.

Biden’s White House press secretary refused to comment on Secretary Yellen’s engagements and speaking fees from Wall Street hedge fund being protected by the White House. She bragged about Yellen being a woman and said she’s “one of the world-renowned experts on markets.”

Video below:

Link

Lawmakers from both major parties criticized Robinhood on Thursday after the California-based financial services firm announced it had restricted its customers’ ability to buy stock in GameStop and other companies whose shares have been driven up by retail investors organized online.

Robinhood announced earlier in the day that it had limited trade in GameStop and other stocks targeted by investors on the irreverent WallStreetBets Reddit forum, citing “recent volatility.”

Investors from the message board had sent shares of the video game retailer up 1,500% in recent weeks, in the process pulling off a calamitous “squeeze” for hedge funds who had bet the company’s shares would continue to slide. In a reversal, shares of GameStop tanked on Thursday after the restrictions were put in place.


TOPICS: Business/Economy; Politics
KEYWORDS: clickbait; gamestopgate; joebiden; robinhood; wallstreet
Navigation: use the links below to view more comments.
first 1-2021-4041-42 next last
They should be MADE to answer. And then she should be investigated!! Tell this so-called WH press secretary to circle around and answer the question!
1 posted on 01/28/2021 2:48:13 PM PST by USA Conservative
[ Post Reply | Private Reply | View Replies]

To: USA Conservative

She took $7.2 million in speaking fees from various Wall Street firms. I would say she’s qualified for her position she’s a great grafter.
https://www.google.com/amp/s/www.politico.com/amp/news/2021/01/01/yellen-made-millions-in-wall-street-speeches-453223


2 posted on 01/28/2021 2:52:53 PM PST by ncfool (Joe Biden USSA.. United Socialist state of aMeriKa...... 11.3.2020 - President in waiting Kama-la-la)
[ Post Reply | Private Reply | To 1 | View Replies]

To: USA Conservative

Whole lot of smoke here. I’m sorry for the folks that were robbed by Robbenhood but this market rigging is a gift from above for MAGA. It just proves in spades everything Trump ever said about the rigged swamp.


3 posted on 01/28/2021 2:53:09 PM PST by lodi90
[ Post Reply | Private Reply | To 1 | View Replies]

To: ncfool

Senile Joe Biden the FALSE President of the U.S.A. is NOT bringing back the swamp, the swamp has never really left, he’s just bringing back some swamp members so they can finish the Destruction of America in 20 days or less, and they are not even trying to hide it.
That Senile old man has a good start on doing just that along with his Cabinet choices with the boatload of NEW Regulations and job killing E/O’s and other decrees.
More E/O’s in his first week than Clinton, Bush, Trump COMBINED in their first month in office. Have to love the Commiecrat idea of transparency and Democracy. Better make sure the kids learn Mandarin or they are going to be in an even tougher situation than they are now unless we see succession or a Civil War, the America we once knew is not coming back. without one or the other likely both.
Lead the way Texas, the Gulf States, and any other State or portion of one that wants to live with Rights and a Constitution, the same one we’re under now with some hardcore protections added for the First and Second Amendments so this never happens again!!!


4 posted on 01/28/2021 2:53:13 PM PST by USA Conservative
[ Post Reply | Private Reply | To 2 | View Replies]

To: USA Conservative

Janet Yellen is a woman, so nothing to see here. Believe all women.


5 posted on 01/28/2021 2:54:50 PM PST by cockroach_magoo
[ Post Reply | Private Reply | To 1 | View Replies]

To: USA Conservative
She needs to resign. If not, impeached. You know, you can impeach anyone since the constitution has no meaning. But follow this logic: PDJT was accused of doing business with Russia, as in building a hotel in Moscow. Since that was part of Russian collusion, every business transaction is fair game for impeachment. Actually, Trump didn't build a hotel in Moscow. There were no business transactions. Ergo, every non-business, non-transaction is the bar for impeachment.

Time to get rid of these deep state swamp creatures. Destroy their reputation. Destroy their lives. Get in their faces and fight. Give them no quarter.

6 posted on 01/28/2021 2:56:13 PM PST by ConservativeInPA (“When injustice becomes law, resistance becomes duty.” ― Thomas Jefferson)
[ Post Reply | Private Reply | To 1 | View Replies]

To: USA Conservative

Why the false title?
Why the lie?

It’s an interesting story without doing that.

These “new media” have got to make some effort to be honest and respectable instead of stooping to the level of CNN grade lying.


7 posted on 01/28/2021 2:57:25 PM PST by mrsmith (US MEDIA: " Every 'White' cop is a criminal! And all the 'non-white' criminals saints!")
[ Post Reply | Private Reply | To 1 | View Replies]

To: USA Conservative

I talked my kid out of joining the Army.

No one should fight for such a corrupt nation.


8 posted on 01/28/2021 2:57:44 PM PST by NoLibZone (We are now officially a systemically racist nation. Our Pres voted for school segregation.)
[ Post Reply | Private Reply | To 1 | View Replies]

To: USA Conservative

Haven’t seen much mention of the irony behind the name Robinhood as it relates to this story. Not exactly stealing from the rich to give the the poor, are they?


9 posted on 01/28/2021 2:58:05 PM PST by Repealthe17thAmendment
[ Post Reply | Private Reply | To 1 | View Replies]

To: NoLibZone

Good choice. Unless your kid is a homosexual and likes to work for extreme left wing liberals that will prosecute him under the UCMJ for being a homosexual, it is far too dangerous to be in the military today.


10 posted on 01/28/2021 3:00:23 PM PST by CodeToad (Arm Up! They Have!)
[ Post Reply | Private Reply | To 8 | View Replies]

To: USA Conservative

GamerGate II: Electric Boogaloo!


11 posted on 01/28/2021 3:01:06 PM PST by KC_Lion
[ Post Reply | Private Reply | To 1 | View Replies]

To: USA Conservative

Amen!!


12 posted on 01/28/2021 3:02:01 PM PST by GOP Poet (Super cool you can change your tag line EVERYTIME you post!! :D. (Small things make me happy))
[ Post Reply | Private Reply | To 1 | View Replies]

To: ncfool

She took $7.2 million in speaking fees from various Wall Street firms. I would say she’s qualified for her position she’s a great grafter.

xxxxxxxxxxxxxxxxxxxxxxxxxxxxx

but but but.... will she kick 10% up to the big guy?


13 posted on 01/28/2021 3:02:21 PM PST by thinden
[ Post Reply | Private Reply | To 2 | View Replies]

To: NoLibZone

I was just saying the same thing to my husband. No one should be sacrificing their lives in endless foreign wars since there is no longer any Freedoms left to fight for.


14 posted on 01/28/2021 3:05:33 PM PST by carikadon (Don't mess with Texas)
[ Post Reply | Private Reply | To 8 | View Replies]

To: lodi90

Agreed....this has massive implications and ties in to what the whole MAGA movement is all about....system is rigged for the elites and against the little people!


15 posted on 01/28/2021 3:08:05 PM PST by angelrod
[ Post Reply | Private Reply | To 3 | View Replies]

To: USA Conservative

Eight days in and they’ve got themselves a barnburner of a scandal.

This is a big one.


16 posted on 01/28/2021 3:09:13 PM PST by RinaseaofDs
[ Post Reply | Private Reply | To 1 | View Replies]

To: USA Conservative

Allegedly Robin Hood sent this late today:

It’s been a tough day, and we’re grateful to you for being a Robinhood customer. In light of the extraordinary market conditions this week, we temporarily limited buying for certain securities this morning. Starting tomorrow, we plan to allow limited buys of these securities. We’ll continue to monitor the situation and may make adjustments as needed.

This was a temporary decision made to best continue serving you, and was not an easy one to make. We know it’s led to frustration and confusion, and wanted to provide some clarity.

As a brokerage firm, we have many financial requirements, including SEC net capital obligations and clearinghouse deposits. Some of these requirements fluctuate based on volatility in the markets and can be substantial in the current environment. These requirements exist to protect investors and the markets and we take our responsibilities to comply with them seriously, including through the measures we have taken today.

To be clear, this decision was not made on the direction of any market maker we route to or other market participants.

The past year in particular has shown us that the financial markets are for everyone—not just institutional investors and hedge funds. We’ve seen a new generation enter the market, and they’re sparking conversations about what it means to be an investor. We stand in support of you, our customers. Democratizing finance for all means giving more people access, not less.

We’ll keep monitoring market conditions and will update this Help Center article with the latest changes. We also published a blog post regarding today’s events.

Thank you again for being a Robinhood customer. We’re so grateful for your support.


17 posted on 01/28/2021 3:16:01 PM PST by TigerClaws
[ Post Reply | Private Reply | To 1 | View Replies]

To: USA Conservative

The stock manipulation is a scandal in itself but if the White House was involved and pressured the online brokerage firms to halt trading, the scandal will officially be HUGE.

Was Janet Yellen involved in the halting of trading in order to protect Citadel, a hedge fund that previously paid her nearly $1 million in speaking fees?

Talk about an appearance of impropriety.


18 posted on 01/28/2021 3:22:50 PM PST by Flick Lives (“Today we celebrate the first glorious anniversary of the Information Purification Directives.”)
[ Post Reply | Private Reply | To 1 | View Replies]

To: USA Conservative

I guess we can waste energy getting all hot and bothered about her abysmal ethics and probable crimes, but we know she’s a Teflon RAT. She’ll be fine.


19 posted on 01/28/2021 3:24:58 PM PST by MayflowerMadam (They HAD to kill somebody for their plan to work. RIP Ashli.)
[ Post Reply | Private Reply | To 1 | View Replies]

To: USA Conservative

Yeah but remember, when commies do it its fine, just like with Pelosi and her hubby selling their tesla stock, insider trading is totally fine as long as you have a D next to your name


20 posted on 01/28/2021 3:26:04 PM PST by Sarah Barracuda
[ Post Reply | Private Reply | To 1 | View Replies]


Navigation: use the links below to view more comments.
first 1-2021-4041-42 next last

Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.

Free Republic
Browse · Search
Bloggers & Personal
Topics · Post Article

FreeRepublic, LLC, PO BOX 9771, FRESNO, CA 93794
FreeRepublic.com is powered by software copyright 2000-2008 John Robinson