Journalists at Politico are under fire after the political news site kicked off the new year with an attack on former Federal Reserve chair Janet Yellen, who is President-elect Joe Biden’s pick to be Secretary of the Treasury.
“In the past two years,” Politico tweeted, Yellen “has raked in more than $7.2 million in speaking fees.”
In the past two years, President-elect Joe Biden’s pick to be Treasury secretary, Janet Yellen, has raked in more than $7.2 million in speaking fees. https://t.co/ZkcAvrPfTw
— POLITICO (@politico) January 1, 2021
“Yellen and other Biden Cabinet nominees reveal earning large amounts in financial disclosures that could complicate their relationships with progressives,” is the sub-head in the article by Politico’s Alex Thompson and Theodoric Meyer.
Yellen spent nearly a quarter-century in public service, retiring as the first woman to ever be the Chair of the Federal Reserve. Previously she had served as a member of the Federal Reserve Board of Governors, and was Chair of President Bill Clinton’s Council of Economic Advisers, among other positions.
Social media users were furious. Some slammed the news site for using the term “raked in,” as if they were suggesting she had acted unethically or even illegally, neither of which is true. Others blasted Politico for the article itself, given that Yellen was a private citizen at the time and had every right to give speeches and be well compensated for them. She also had little expectation she would return to public service, after President Donald Trump refused to re-appoint her as Federal Reserve chair because she was too short.
And others accused Politico of trying to drum up anger among various wings of Democratic party voters.
Last I heard, collecting speaking fees was perfectly legal for someone not on the government payroll. Good for Janet Yellen — her talks must be intelligent and informative in order to command that much money.
— 🖖🎆Amy🎆🖖 (@bluevelvetspock) January 1, 2021
I’m not sure what Politico’s motivation was, but my take on it is that if Janet Yellen has made that much from public speaking, she’s obviously very well respected and probably very insightful as well.
— Pleasantly Pink (@ReginaRed4) January 1, 2021
Better to make it in speaking fees than by insider trading or exploiting labor.
— IdealsMatter (@HeyStine) January 1, 2021
I guarantee you that Janet Yellen doesn’t need a pardon for earning $7.2 million. https://t.co/O5tUSGOVpF
— KD (@Fly_Sistah) January 1, 2021
Wonderful! Women’s work should be properly compensated and it rarely is. Thank you Janet Yellen.
— Heidi Jon Schmidt (@noelcourage) January 1, 2021
Why “raked in”? Something unseemly or sinister about a smart woman paid well for her thoughts?
And why is this news?
— Michelangelo Signorile (@MSignorile) January 1, 2021
Yellen is very qualified, a hard worker and she pays taxes. She’s an excellent example of the work trained people should be doing.
— Debbie Hirsch (@DebraHirsch1) January 1, 2021
Alternatively: "In the past two years a world-renowned economist made an income nowhere near commensurate with a male CEO, but in a fit of peak 2016 misogyny, we thought we'd put up a sexist straw man and see how far we could ride it." Please, please, please do better.
— Victoria Brownworth #HappyNewYear🎉🎉 (@VABVOX) January 1, 2021
You get what you pay for. We should feel lucky to have her priceless expertise,driving our Country’s Treasury Department.Mnuchin hands Wall Street a Trillion $ every 3 months,and made a fortune Forclosing on Grandmas and Veterans,after the last crash. So I think we’re trading up.
— 😷Brian O’Loughlin💙🆘🐶❄🌊 (@brianoloughlin9) January 1, 2021
So?? Also this article conflates one-time speaking engagements with consulting work. They are entirely different things. In a speaking gig you convey your own thoughts and ideas to a group who is willing to pay you to hear them. Consulting involves enhancing the co’s bottom line.
— Asha Rangappa (@AshaRangappa_) January 1, 2021
Not news. All this says is that Yellen fulfilled her part of an agreement and was compensated.
This after watching the grifter in chief pay his businesses for 4 years with the taxpayer’s money.
The two are not even in the same country, much less ballpark
Do better @politico
— D.A. Gray (@dagray08) January 1, 2021
Isn’t letting the market decide a good thing?
If that’s what the market decided, who am I to complain?
— Jay Robertson (@IJefTomI) January 1, 2021
Alex & Theodoric began to write, “earned” but realized they was referring to a woman, legitimately making 7.2 million in speaking fees & it galled their pathetic male sensibilities so much that they chose “raked in” like the gutless, whiney asshole chauvinists they are.
— Victoria Laurie (@Ll20Victoria) January 1, 2021
One of the world’s foremost, influential, highly-regarded female economists might have something to do with it. Hillary, Warren, Yellen… I’m seeing something of a pattern. Maybe politico can investigate how much Bernanke, Paulson, Lagarde, Rajan “raked in.”
— Festive Source Merlin (@avvwrites) January 1, 2021
And here the media goes again..all of a sudden it’s not politically expedient for them to have a bar so low you can’t even see it. Right on cue as a Democrat is about to take office…
— Kelly🇨🇦 (@momma72of2) January 1, 2021
What kind of hit piece is this? Yellen got paid for her speeches & somehow this is supposed to nefarious?According to Politico, only Republicans are allowed to make a profitable living.
— Jay Dem (@JayDen5210) January 1, 2021
Good for her. Pay her her worth. Pay every woman her worth.
— Mattison (@Mattison) January 1, 2021
Image by Federal Reserve via Flickr
Enjoy this piece?
… then let us make a small request. The New Civil Rights Movement depends on readers like you to meet our ongoing expenses and continue producing quality progressive journalism. Three Silicon Valley giants consume 70 percent of all online advertising dollars, so we need your help to continue doing what we do.
NCRM is independent. You won’t find mainstream media bias here. From unflinching coverage of religious extremism, to spotlighting efforts to roll back our rights, NCRM continues to speak truth to power. America needs independent voices like NCRM to be sure no one is forgotten.
Every reader contribution, whatever the amount, makes a tremendous difference. Help ensure NCRM remains independent long into the future. Support progressive journalism with a one-time contribution to NCRM, or click here to become a subscriber. Thank you. Click here to donate by check.
- News2 days ago
Embattled Trump-Appointed DHS Inspector Was Given Phones of Secret Service Agents in July, Raising ‘New Questions’: Report
- News3 days ago
‘We Have Incredible Things’: Trump Surprised NYT Reporter Last Year by Boasting He Kept White House Documents
- RIGHT WING EXTREMISM3 days ago
Critics Blast Top US Conservative Think Tank President for Applauding Italy’s Election of ‘Neo-Fascist’ Prime Minister
- RIGHT WING EXTREMISM2 days ago
‘Bright-Red, Ear-Splitting Alarm Bell’: Former Top GOP Congressman Blasted for ‘Normalization’ of Fascism (Video)
- CRIME2 days ago
Trump Mocked for ‘Sidelining’ His New $3 Million Attorney: ‘Must Have Given Him Actual Legal Advice’
- News1 day ago
Watch: Cruz Only ‘No’ Vote After Railing Against Bipartisan Bill to Prevent Another Coup
- RELIGIOUS EXTREMISM2 days ago
‘We Need to Go All the Way’: GOP Lawmaker Brags Her ‘Don’t Say Gay’ Bill ‘Goes Further’ Than Florida’s But Not Far Enough
- RIGHT WING EXTREMISM14 hours ago
Don’t Call Us ‘Fascists’: Marjorie Taylor Greene Blasts News Media After Criticism Over Her Feral Hog Hunting Stunt