Doubling the speaking fee Hillary Clinton usually receives, former President Barack Obama will reportedly accept $400,000 for an upcoming speech at a New York-based investment bank, causing critics to note the hypocrisy.
“Is there an irony here because he spoke incessantly about the income gap and is now earning from those same people he criticized? Yes, [there] is,” said Hank Sheinkopf, a Democratic political consultant. “Should we expect it? Yes, we should, because all former presidents do this. 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.”
In his defense, Obama spokesman Eric Schultz pointed out that in 2008, then-candidate Obama pulled in more money than any candidate in history and went on to “implement the toughest reforms on Wall Street since FDR.”
It’s been reported by Fox News that Obama has signed on to be one day’s keynote luncheon speaker at a Wall Street conference on health care run by Cantor Fitzgerald LP in September.
Schultz said that Obama will continue to give speeches occasionally, but he plans to devote much of his time to writing another book and “focusing his post-presidency work on training and elevating a new generation of political leaders in America.” Obama’s most recent book deal is worth $63,000,000.
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