Obama to be paid $400000 for Cantor Fitzgerald speech

Posted April 27, 2017

Former President Barack Obama, less than 100 days out of office, has agreed to speak at a Wall Street conference run by Cantor Fitzgerald LP, senior people at the firm confirm to FOX Business.

A US$400,000 speaking fee for addressing the Cantor Fitzgerald conference would be a sharp increase from the amounts typically paid to his predecessors.

While Obama railed against "fat cat bankers" on the campaign trail, during his tenure as president he oversaw the massive bailout for the firms responsible for the 2008 crisis, picked former Wall Street executives for his cabinet, and not a single banker went to jail.

Vox reporter Matthew Yglesias wrote an article titled, "Obama's $400,000 Wall Street speaking fee will undermine everything he believes in".

During his presidency, Obama often referred to the Wall Street set as "fat cats".

Hillary Clinton copped backlash during her failed presidential bid for earning around $US200,000 for three speeches she gave to mega-bank Goldman Sachs.

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Mr Obama spoke publicly for the first time since leaving office on Monday.

He was envisioned kite-surfing in February with Richard Branson off the Virgin head honcho's private Caribbean island. In addition to appearing like a hypocrite, the editors point out that if Obama accepts the money it will be poor optics for the Democratic Party - the last thing a defeated and divided party needs right now. Also on the yacht were stars including musician Bruce Springsteen and actor Tom Hanks.

On April 24, he directed his first public statement about community organizing to students at the University of Chicago, where his presidential library will be built.

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

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 $65 million for the deal.