On Tuesday’s broadcast of the Fox Business Network’s “Evening Edit,” Rep. Greg Steube (R-FL) stated that there is a “level of corruption in Washington” that “is beyond the pale” and cited Treasury Secretary Janet Yellen received $7 million in speaking fees before she took the office, including from major financial institutions “that she’s going to decide to bail out.”
Host Elizabeth MacDonald asked, [relevant exchange begins around 2:15] “I’ve been covering bank crises since the ’80s, S&L crisis, then Long-Term Capital Management, then the 2007 — the dotcom bust, they did corporate accounting scandals, then in 2007-2008, Congressman, nobody ever said back up uninsured deposits ever. This is because of a few banks that made bad bets, and all of a sudden, the Biden White House gets to change the rules that have been the gold standard forever, when even FDR said do not insure bank deposits, bankers will roll the dice and ruin things. So, where do you go from here, Congressman, will you guys try to stop this push that’s now — it’s moving, that could happen? What do you think?”
Steube responded, “Well, we will absolutely, in the House and Chair McHenry (R-NC), we were all together, the caucus was together in Orlando today. And he said he doesn’t support bank bailouts. He didn’t support it before. He doesn’t support it now. That’s the Chairman of the Financial Services Committee. You’re not going to not see the Republicans support that at all. And what I find very interesting is Yellen herself got millions of dollars, $7 million in speaking fees before where she’s at now from some of the banks that she’s going to decide to bail out. The level of corruption in Washington is beyond the pale.”
Follow Ian Hanchett on Twitter @IanHanchett
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