Former President Barack Obama is raking in big bucks by delivering speeches to major Wall Street investment firms he once smeared as “fat cats,” earning upwards of $400,000 per speech according to a new report from Bloomberg.
The two-term President, who routinely slammed big banks and Wall Street executives as “fat cats” who don’t “pay their fair share in taxes,” is now one of the highest paid speakers in the country, taking in almost half a million dollars per engagement.
Obama reportedly earned over $400,000 last month for a speech he gave to Northern Trust Corp; the same fee he will receive for addressing Cantor Fitzgerald LP later this week.
A spokesman for the President defended the left-wing politicians outrageous price, saying Obama’s “paid speeches in part have allowed President Obama to contribute $2 million to Chicago programs offering job training and employment opportunities to low-income youth.”
Barack Obama routinely slammed the financial services sector during both his 2008 and 2012 presidential campaigns, blasting “overpaid” bankers and “out of touch” Wall Street executives who were earning giant bonuses while average Americans were reeling under the “great recession.”
The former President has been busy since leaving the Oval Office, earning over $60 million for a joint book deal including himself and former First Lady Michelle Obama. Later this year, Obama will host a summit of world leaders in Chicago.