Published: Thu, April 27, 2017
Local | By Dorothy Bennett

WaPo Pleads With Obama to 'Rethink' Wall Street Payout for New Speech

WaPo Pleads With Obama to 'Rethink' Wall Street Payout for New Speech

A spokesperson for Barack ObamaBarack ObamaSpokesman defends anticipated Obama speaking fee Dem rep mocks Trump for confusing courts Trump to continue paying ObamaCare subsidies MORE is defending the speaking fee the former president will reportedly receive from a Wall Street company later this year.

Neither his officials or Cantor Fitzgerald could be reached to comment on the reports from the United States, where he is facing criticism for his decision to accept the engagement. The said fee that would be received by Obama is allegedly nearly twice the amount ($225,000) received by Presidential candidate Hillary Clinton to give three speeches to Goldman Sachs in 2015.

A scheduled speech for Wall Street firm Cantor Fitzgerald this September is not.

According to a report by the Financial Times published Tuesday, an unnamed source familiar with the arrangement confirmed that Obama agreed to give a keynote speech at the conference but declined to say what he might do with the fee.

He had also criticized the big bank employees as "fat cat bankers on Wall Street" in the same interview.

On "Outnumbered" today, Meghan McCain said she would love to see how some on the far-left are reacting to Obama's apparent about-face on Wall Street. Yglesias argues that Obama should have turned down the speech.

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The news of Obama's bounty from Cantor Fitzgerald, whose multi-millionaire chairman, Howard Lutnick, backed Jeb Bush in the 2016 election, follows a three-month vacation that involved island hopping in the Caribbean and South Pacific and kite surfing and yachting with billionaires.

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".

Photographs of the former president enjoying kite-surfing with Virgin founder Richard Branson off the billionaire's private Caribbean island emerged in February. Under Obama, the Federal Reserve pumped trillions of dollars of virtually free cash into the financial markets, more than tripling the value of the Dow.

Mr Obama also took in a Broadway play in New York City before dining with U2's Bono.

Obama in his first public address after leaving the White House for good had given an address to students at the University of Chicago, where his presidential library is to be built.

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