fee speech

Barack Obama’s Spokesperson Defends $400,000 Wall Street-Sponsored Speech

Barack Obama’s spokesperson Eric Schultz defended the former president’s $400,000 speaking fee for an upcoming speech at a conference sponsored by a Wall Street investment bank.

“With regard to this or any speech involving Wall Street sponsors, I’d just point out that in 2008, Barack Obama raised more money from Wall Street than any candidate in history – and still went on to successfully pass and implement the toughest reforms on Wall Street since FDR,” Schultz said in a statement.

Reports that Obama would earn $400,000 for the speech drew criticism this week, as people argued that accepting money from Wall Street firms would go against his beliefs. Obama’s post-presidential career will include a number of speeches and a two-book deal with Penguin Random House for $60 million.

“While he’ll continue to give speeches from time to time, he’ll spend most of his time writing his book and, as he said in Chicago this week, focusing his post-presidency work on training and elevating a new generation of political leaders in America,” Schultz said.

See original article on Fortune.com

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anonymous asked:

All presidents have to make a living after, and many do speaking and books. It isn't just Obama.

That’s not the point. The point is that Obama literally said “At a certain point, you’ve made too much money”. 

But then he goes out and charges $400,000 speaking fees, for a single speech.

And actually, no, Presidents don’t have to make a living. All Presidents receive a pension of (as of 2015) $203,700 per year.

So the Obama family is already receiving an income equal that puts them in the top 5-10% of earners, on the tax payer dime, and on top of that Obama charges a $400,000 speaking fee.

It’s hypocritical.

Barack Obama draws criticism for $400,000 Wall Street speech fee

Barack Obama has drawn criticism for accepting an invitation to speak at a Wall Street conference for almost half a million dollars.

The former President will receive $400,000, equal to his annual pay as President, for a speech at Cantor Fitzgerald’s healthcare conference as a keynote speaker in September.

Mr Obama’s fee is nearly twice as much as Hillary Clinton has charged private companies for similar events.

The former President, who called bank CEO’s “fat cats” in the opening weeks of his administration, has come under fire for the Wall Street speech since reports first emerged earlier in the week.

Bernie Sanders has said he thinks it is “unfortunate” Mr Obama opted to receive the fee and argued the decision signifies the profound influence big business has on the political system.

“I think it just speaks to the power of Wall Street and the influence of big money in the political process,” the Democrat Vermont senator told Bloomberg.

“I think it’s unfortunate. President Obama is now a private citizen and he can do anything he wants to but I think it’s unfortunate. You have the former president of Goldman Sachs is now the chief financial advisor for President Trump, and then you have this, so I think it’s unfortunate”.

Senator Elizabeth Warren has also expressed her reservations, saying she was “troubled by” the speaking fee.

“I was troubled by that,” Warren said on SiriusXM’s Alter Family Politics during an appearance to promote her new book.

“One of the things I talk about in the book is the influence of money. I describe it as a snake that slithers through Washington. And that it shows up in so many different ways here in Washington.”

Meghan McCain, a Fox News host, went a step further and called Mr Obama a “dirty capitalist” for agreeing to speak at the investment firm.

“The great irony is that Saint Obama, who is supposed to representing everything that is good and utopian on the left, is actually a dirty capitalist like the rest of us,” McCain, who is the daughter of Republican Senator John McCain, said.

While Mr Obama is said to have signed a contract for the event, the company is reported to be waiting to finalise arrangements with the Chicago native before making a formal announcement.

Eric Schultz, senior advisor to President Obama, defended the President in a statement sent earlier in the week and challenged the notion hefty speaking fees compromise the former President’s principles.

“As we announced months ago, President Obama will deliver speeches from time to time,” he told The Independent. “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.

“He recently accepted an invitation to speak at a health care conference in September, because, as a President who successfully passed health insurance reform, it’s an issue of great importance to him. With regard to this or any speech involving Wall Street sponsors, I’d just point out that in 2008, Barack Obama raised more money from Wall Street than any candidate in history – and still went on to successfully pass and implement the toughest reforms on Wall Street since FDR.

“And while he’ll continue to give speeches from time to time, he’ll spend most of his time writing his book and, as he said in Chicago this week, focusing his post-presidency work on training and elevating a new generation of political leaders in America.”

Mr Obama, who left the White House almost 100 days ago, took to the stage in Chicago for his first public appearance since Donald Trump’s inauguration on Monday. Returning to the city he launched his political career in, he revealed his first post-White House project would focus on urging the next generation to become more politicised and civically engaged.

Hillary Clinton: You're With Her?

- Former Republican who has the audacity to question whether Bernie Sanders, who is more liberal than her, is actually a Democrat.
- Opposed marriage equality until 3 years ago and is now all of a sudden a civil rights “champion” in the eyes of her donors. In fact, her husband signed DOMA.
- Voted in favor of the Iraq War.
- Used the Sandy Hook Massacre as a political prop to disingenuously smear Bernie Sanders.
- Is “for the fight for 15” but only wants a $12 minimum wage.
- Was outspoken about how she opposed Obamacare in 2008 but now is all of a sudden all for it and LOOOVVVEEESSSS President Obama.
- Was FOR universal health care until her palms were greased by the health care industry. Now universal health care is “unrealistic”.
- Hillary Clinton once said “since when do democrats attack other democrats on Universal health care?” but constantly attacks Bernie Sanders on universal health care.
- Says we can’t afford free college and free health care but is okay with a trillion dollar unwinnable war.
- Won’t release her Goldman Sachs transcripts.
- Is gonna tell the big banks on Wall Street to “cut it out”.
- Received MILLIONS in speaking fees (bribes) for speeches given to big banks.
- Earned $27 million dollars in a single year yet is going to stick it to the 1%.
- Was cool with Obama’s immigration policy but now they’re “too harsh”.
- Is a self proclaimed progressive….and also also self proclaimed “moderate”.
- Blamed home buyers for the 2008 crash and NOT shady Wall Street practices. Then in 2015 blamed Wall Street.
- NAFTA? She was all for it. Fuck our jobs, right? Now states she was against it the whole time.

You’re With Her?

A Scottish University Wants to Give Refunds to Students Who Fail

What do four years at university and cheap electrical appliances have in common? “Not a lot” would usually be the answer, but if the principal at a Scottish university gets his way, you might soon be able to obtain a money back guarantee on both. Outlining radical plans on Wednesday, professor Craig Mahoney of the University of the West of Scotland (UWS) said he believed that if students fail their degree course, they should entitled to a rebate on their tuition fees. UWS are already looking at putting this in place and if successfully implemented, it would amount to one of the most drastic shake-ups of the student finance system since tuition fees were introduced.

Delivering a speech at an event in the House of Commons—a venue more accustomed speeches about to hiking up fees than handing out refunds—Mahoney explained that if students are accepted into the university on the basis that they’ll succeed, and then fail despite having, “attended and participated in all the support and development opportunities we offer,” the university is considering processing a refund on their tuition fees.

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