Published: Thu, April 27, 2017
Local | By Adrian Hale

Barack Obama Accepts $400000 From Wall Street To Deliver Speech

Barack Obama Accepts $400000 From Wall Street To Deliver Speech

That brand of populism clearly has very broad appeal, and now Democrats are being put in the position of deciding whether their former president should take $400,000 from Wall Street for a speech.

Obama will serve as the keynote speaker for a luncheon hosted by Cantor Fitzgerald LP, a mid-sized NY investment bank, sources told Fox Business. And Obama's spokesman confirmed last week that he is beginning the paid-speech circuit. If anyone thought Hillary Clinton made a fortune off her speeches, they'll find it hard to believe what Obama's rate is.

However, Obama's decision to do so has come under fire - particularly from those recalling his 2009 statement to CBS that he did not run for office "to be helping out a bunch of fat cat bankers on Wall Street".

Hank Sheinkopf, a Democratic political consultant, said: "He went on the attack against Wall Street and now he's being fed by those same people he called 'fat cats.' It's more hypocritical than ironic". He is said to have agreed to accept $400,000 from a Wall Street group to give a speech later this year.

However, Mr Obama isn't the only former politician cashing in as keynote speakers, as the world's biggest political names regularly draw in six-figure fees for public appearances.

He was pictured kite-surfing in February with Richard Branson off the Virgin tycoon's private Caribbean island. Is there anyone more on fire than Barack Obama is right now?

The 55-year-old former president returned to the public stage this week to speak at the University of Chicago, where he said he would support future leaders.

The former president also enjoyed a Broadway play in New York City before having dinner with U2 frontman Bono, it was reported.

Two months back the previous president acknowledged an offer from Penguin Random House for two books to be composed independently by him and Michelle.

They are expected to receive $65m for the deal.

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