Wall Street's New Friend

A former Democratic president of the United States has agreed to speak at a Wall Street conference and will be receiving $400,000 for it. No, it’s surprisingly not Bill Clinton and luckily not Hillary Clinton. Instead, it's former President Barack Obama who will be giving this speech at Cantor’s health care conference. This conference is being run by Cantor Fitzgerald LP, senior people and is scheduled to occur in September. But wait a minute, I thought Mr. Obama was supposed to be against the bankers on Wall Street?

In 2009 when Barack Obama was president he said while talking to CBS “I did not run for office to be helping out a bunch of, you know, fat cat bankers on Wall Street.” Well, now that Mr. Obama is no longer president it seems that he thinks it’s okay to help these so-called “fat cat bankers on Wall Street” as long as he's getting something in return. With receiving $400,000 for this speech he will be making almost twice the amount Hillary Clinton made when she gave three speeches to Goldman Sachs in 2015. It's also known that Mr. and Mrs. Obama got a joint book deal that is worth $60 million which I'm sure would be enough to live pretty comfortably already. You would be right to say Mr. Obama is a hypocrite because he has said before “I do think, at a certain point, you've made enough money.” But it seems like that only applies to everyone else but him. Mr. Obama when are you going to be able to say that you have made enough money?

 Barack Obama leaving the Oval Office in January for the last time. CreditStephen Crowley/The New York Times

Barack Obama leaving the Oval Office in January for the last time. CreditStephen Crowley/The New York Times

The company has verified that Mr. Obama has signed a contract with them to attend and speak at the conference. Mr. Obama's spokesperson Eric Schultz has put out a statement defending him for accepting to speak at the conference, and receiving the large sum of money in return by saying “As we announced months ago, President Obama will deliver speeches from time to time. Some of those speeches will be paid, some will be unpaid, and regardless of venue or sponsor, President Obama will be true to his values, his vision and his record.” Now I understand this isMr. Schultz's job and he is getting paid to defend Mr. Obama, but in what way is he being "true to his values"? He is just doing the exact opposite of what he said he would do for his own gain, but I guess thats politics right?  I will say he was right when he said Mr. Obama "will be true to his record." With how much debt he put our country in while being president (about $10 trillion) he proved how much he loves money, and now he's just proving it even more. I guess the only positive thing about it this time is when he spends the money he's getting for doing this speech it won’t put us in debt.