"I did not run for office to be helping out a bunch of fat cat bankers on Wall Street."
Obama's payday is reportedly twice what Hillary Clinton charged for similar private speeches with businesses. Obama, during his 8 year tenure at the White House as the President was known to have had hard relations with the business sector as he had found the high bonuses paid to bank executives unacceptable and was of the opinion that Wall Steet was in many ways responsible for the 2008 financial crisis.
The New York Post dubbed him "Wall Street's newest fat cat", as a result.
The fee is almost double the amount - $225,000 - that former Democratic nominee Hillary Clinton got paid for delivering three speeches to Goldman Sachs in 2015.
However, he has come under criticism because during his Presidency, he spoke out strongly against such paid speeches at Wall Street events. Obama and former first lady Michelle Obama stand to make tens of millions of dollars in honorariums.
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The revised proposal includes an 8 percent increase over PPG's prior proposal March 22 and 17 percent over its original offer on March 2.
Other readers called for people to move on from criticizing Obama, pointing to the fact that most former Presidents take speaking fees.
"Should we expect it?"
The former president did not mention President Trump or offer political commentary during his appearance at the University of Chicago. He placed blame on Wall Street for the financial crisis and the unraveling it caused. I wonder if there's more going on here that we don't know yet? The consultant said it was more hypocritical than ironic. In addition to appearing like a hypocrite, the editors point out that if Obama accepts the money it will be poor optics for the Democratic Party - the last thing a defeated and divided party needs right now. They were paid a $60 million advance to write about their experience in the White House and to spill on various details they never revealed to the media.
Neither his officials or Cantor Fitzgerald could be reached to comment on the reports from the United States, where he is facing criticism for his decision to accept the engagement.