Obama begun cashing with paid Wall Street speeches

FILE - In this May 3, 2017, file photo, former President Barack Obama speaks at a community event on the Presidential Center at the South Shore Cultural Center in Chicago. Obama announced Sept. 13, he plans to invite civic leaders to Chicago next month to exchange ideas and plan ways to solve some of the world's common problems. The inaugural Obama Foundation “leadership summit will be a place to gather and learn from one another, and then go back to your communities to lead others in the hard work of change,” Obama said in a video and email released to supporters. (AP Photo/Nam Y. Huh, File)
Vastavam web: Barack Obama has begun cashing in on his time in the White House with paid Wall Street speeches less than a year after leaving office, a practice which drew stinging rebukes for Hillary Clinton during last year’s presidential campaign.The former US president will appear on Monday before a who’s who of the US health care industry at a conference to be held next week by the New York trading firm Cantor Fitzgerald, according to two sources with knowledge of the matter.According to a person briefed on Obama’s planned appearance, he will be paid about USD 400,000.
In August, Obama addressed a New York gathering held by the Chicago private banking and wealth management firm Northern Trust.Panelists at that event, according to the firm’s website, included billionaire former New York mayor Michael Bloomberg, chief Microsoft cybersecurity advisor Jonathan Trull and IBM general manager for “blockchain” technology Marie Wieck.Carlye Group and Northern Trust both declined to comment when contacted by AFP. A spokeswoman for Cantor Fitzgerald confirmed that Obama would attend next week’s event but offered no additional details.
The speeches are the first Obama has given to Wall Street since leaving the Oval Office on January 20. Since May, Obama has made paid appearances in Italy, Germany, Scotland, Canada, Indonesia and South Korea.He is also due to make an appearance later this month in Toronto and to appear at a New York synagogue in January.”Consistent with that, his paid speeches in part have allowed President Obama to contribute USD 2 million to Chicago programmes offering job training and employment opportunities to low-income youth.”
The appearances nevertheless risk drawing the same criticism that bedevilled Clinton during last year’s White House campaign, exposing Obama to barbs from the left of the Democratic Party, which currently has no clear standard bearer.Clinton has since written she now regrets delivering paid remarks to the investment bank Goldman Sachs and others because it created the impression that she was in their pockets.