4 ms·

> 700K is a pittance compared to the millions she would earn in the private sector. We're talking about that amount of money for just a few days of "work". >

by _qulr 6y ago

> 700K is a pittance compared to the millions she would earn in the private sector. We're talking about that amount of money for just a few days of "work". > Yet people begrudge her the 220K she does earn. Treasury Secretary and Chair of the Fed would be a multi million dollar a year jobs in the private sector. That doesn't make any sense. These jobs don't exist in the private sector. In any case, Treasury Secretary is not a lifetime gig. At most 8 years, probably less. And then Yellen will go back to the private sector, to cash in even more. These are ongoing, transactional relationships. Think of these speaking fees as a down payment.

threatofrain 6y ago
> That doesn't make any sense. These jobs don't exist in the private sector. Hmm?
smeyer 6y ago
>At most 8 years, probably less. And then Yellen will go back to the private sector Yellen was in public positions from 1977-1980, 1994-1999, and 2004-2018. She was a professor at Harvard from 1971-1976 and at UC Berkeley from 1980-1994. She's certainly made a lot of money from these sorts of speaking fees and there's criticism to be had, but she's spent far more time in academic or public positions than she has "in the private sector". I don't think she's the same case as, e.g., someone who was employed by an investment bank for a long time, takes a federal position for a year or two, then goes back to working in banking.
- _qulr 6y ago
  > I don't think she's the same case as, e.g., someone who was employed by an investment bank for a long time, takes a federal position for a year or two, then goes back to working in banking. True. Yellen clearly prefers public sector work. However, I think there's a false dichotomy being presented. There's no inherent conflict between working in the public sector and being corrupt. The list of corrupt politicians is endless. Why not do what you love and cash in? Best of both worlds, from the corrupt politician's perspective.

by _qulr 6y ago

threatofrain 6y ago

> That doesn't make any sense. These jobs don't exist in the private sector. Hmm?

smeyer 6y ago

>At most 8 years, probably less. And then Yellen will go back to the private sector Yellen was in public positions from 1977-1980, 1994-1999, and 2004-2018. She was a professor at Harvard from 1971-1976 and at UC Berkeley from 1980-1994. She's certainly made a lot of money from these sorts of speaking fees and there's criticism to be had, but she's spent far more time in academic or public positions than she has "in the private sector". I don't think she's the same case as, e.g., someone who was employed by an investment bank for a long time, takes a federal position for a year or two, then goes back to working in banking.

_qulr 6y ago
> I don't think she's the same case as, e.g., someone who was employed by an investment bank for a long time, takes a federal position for a year or two, then goes back to working in banking. True. Yellen clearly prefers public sector work. However, I think there's a false dichotomy being presented. There's no inherent conflict between working in the public sector and being corrupt. The list of corrupt politicians is endless. Why not do what you love and cash in? Best of both worlds, from the corrupt politician's perspective.