Sarah Bloom Raskin, President Joe Biden’s latest Federal Reserve nominee, is a revolving-door lobbyist who used her access to get special treatment from the Fed for a company on whose board she sat. She thus made more than a million dollars for herself.
The company involved is called Reserve Trust. Reserve Trust is explicitly not a bank but a “fintech trust company” that serves as an intermediary between businesses, allowing one company to pay another company directly without having to work through a bank.
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