Friday, April 28, 2017

Wall Street Fees

From the left: Barack Obama has a powerful voice. He shouldn't use it for paid speeches by Jill Abramson
Excerpt: It’s still early, but so far Barack Obama’s post-presidency has been a disappointment. On Monday – during his first public appearance since Trump’s inauguration – Obama touched on income inequality. But as is becoming glaringly obvious to all, Obama is now firmly in the 1% himself – thanks in no small part to corporate America. The optics of some of Obama’s decisions since leaving office have been damaging. We learned this week that he will be paid a whopping $400,000 speaking fee from Cantor Fitzgerald LP, a bond firm known for dealing in credit default swaps, the fancy financial instruments that helped trigger the 2008 financial meltdown. ... The habitual kowtowing of senior Democrats to the billionaire class has left their party close to morally bankrupt. Bernie Sanders was right to hammer Hillary during the primaries for her speaking fees from Wall Street. Even her most ardent supporters found these speaking fees indefensible. They were certain to be fodder for her opponents. It was misguided of Obama to have signed on with the same DC speakers’ bureau as the Clintons, the Harry Walker Agency. For sure, it’s easy money. This giant of the speaking circuit has enriched the Clintons to the tune of $158m. During her campaign, Hillary explained that she took all that money because “it was what they offered”.

No comments:

Post a Comment