Obama criticised for '$400000 Wall Street speech'

Gasparino: Obama To Receive $400000 Fee For Cantor-Fitzgerald Wall Street Speech

Because of the timing of the Cantor event and the uncertain future of health care reform in the Trump administration, Obama may be asked about the Affordable Care Act when it could theoretically be repealed and replaced, which is now a top priority for both the White House and the legislative branch.

Barack Obama has come under fire for reportedly accepting a $400,000 (£310,000) invitation from a Wall Street Bank to speak at an upcoming event.

Writing on vox.com, a liberal writer, Mathew Yglesias, said if Obama goes ahead with the paid speech, "it will undermine everything he believes in". Following the 2008 financial crisis, Obama pushed Wall Street reform and demanded accountability from the big banks, who he targeted as the cause of the "great recession". He pointed that Obama attacked Wall Street, but was now being fed by those who he once called fat cats.

That hefty payout, which is roughly seven times the median household income in the US, puts Obama in the same league as Bill Clinton on the lucrative presidential speaking circuit.

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The news of Obama's bounty from Cantor Fitzgerald, whose multi-millionaire chairman, Howard Lutnick, backed Jeb Bush in the 2016 election, follows a three-month vacation that involved island hopping in the Caribbean and South Pacific and kite surfing and yachting with billionaires.

Hank Sheinkopf, a Democratic political consultant, tells Fox News that there's plenty of irony with Obama giving a speech on Wall Street despite the fact so many former presidents do it.

He was envisioned kite-surfing in February with Richard Branson off the Virgin head honcho's private Caribbean island.

On April 24, he directed his first public statement about community organizing to students at the University of Chicago, where his presidential library will be built. Is there anyone more on fire than Barack Obama is right now?

Exxon seeks OK to resume Russian oil venture
Treasury placed on Russia, Rosneft and Rosneft CEO Igor Sechin in the wake of Russia's invasion of Ukraine and seizure of Crimea. Throughout the campaign season, US President Donald Trump advocated improving relations with Russian Federation .

Mr Obama additionally took in a Broadway play in New York City before eating with U2's Bono.

Prior to that, the Obamas landed book deals with Penguin Random House totaling a combined $65 million.

They are relied upon to get $65m for the arrangement.

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