Report: Obama To Receive $400K For Wall Street Speech
The former president may give the address in September.
Barack Obama is set to address a Wall Street conference this September, according to a new report on Fox Business Network spotted by The Hill.
The former president is slated to receive $400,000 to give the keynote speech at the healthcare conference of Cantor Fitzgerald LP, a financial services firm, according to FBN's sources. However, clauses in the contract reportedly allow the president to cancel his appearance "if scheduling conflicts or other concerns arise."
The planned appearance threatens to further beleaguer Democrats. The party Obama once led is still struggling to tap the rising populist sentiment in the country since the 2016 election: according to a new poll from Washington Post/ABC News, 67% of Americans think the Democratic Party is out of touch with the concerns of everyday Americans, more than both the Republican Party and President Donald Trump. This number could be exacerbated by the presidential campaign of Hillary Clinton, which faced sustained criticism for her sealed speeches to Wall Street firms.
Obama's legacy with Wall Street is a matter of contentious debate. Critics have dismissed the Wall Street reform package known as Dodd-Frank Act, passed by Congress in the wake of the 2008 financial crisis. His administration has also been criticized for not prosecuting any of the major players in the financial crisis, and for his 2008 election campaign's financial ties with Wall Street.
Yesterday, Obama made his first public appearance since leaving the presidency to speak at a roundtable organized by the Chicago Create Real Economic Destiny (CRED).