Obama criticised for '$400000 Wall Street speech'

Barack and Michelle Obama

Previous US President Barack Obama is being reprimanded for purportedly concurring a $400,000 (£310,000) expense for a discourse to a Wall Street bank.

Insiders at the firm Cantor Fitzgerald LP confirmed to Fox Business that Obama signed a contract to be the keynote speaker at its health care conference.

He condemned high rewards paid to bank officials, and said Wall Street shared fault for the 2008 monetary emergency.

Sources revealed to Fox Business that the former president has already signed the contract with the financial services firm to appear at their company event.

Pretty sweet gig though. that's an entire year of POTUS salary in a single day. His speaking fee will be almost double what twice-failed Democratic presidential candidate Hillary Clinton charges for her Wall Street speeches.

She was vigorously reprimanded amid a year ago's presidential battle for her Wall Street addresses, with activists on both sides of the political range requesting she discharge the transcripts.




The news comes on the same day that Obama attended his first public event since leaving office.

Obama's actions towards Wall Street were less aggressive than his rhetoric.

The network's sources said Obama has signed a contract for the speech with the mid-size investment bank in NY.

"Is there an irony here because he spoke incessantly about the income gap and is now earning from those same people he criticized?"

The 44th president has acknowledged an offer to talk at a social insurance gathering facilitated by Cantor Fitzgerald in September, US media report.

In 2009, he told CBS: "I did not run for office to be helping out a bunch of fat cat bankers on Wall Street". They've enjoyed an extended vacation since January 20, and are in the process of writing their own books.

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