Obama Explains Why He Accepted $400,000 For A Paid Speech On Wall Street

Tyler Durden's picture

There was some snickering two days ago when it emerged that as his first paid speech appearance, former president Barack Obama who - at least on paper was a determined crusader against the big banks - will receive $400,000 for roughly an hour of his time from, well, a bank or rather Cantor Fitzgerald.

Moments ago, Obama seemingly concerned by the public response the news has generated, decided to respond via his spokesman Eric Schultz, and explain why it is perfectly ok for the former president to collect a $400,000 from a bank. We won't comment suffice to note that in trying to explain why it is now ok for him to collect nearly half a million dollars from the hate banks, it is probably not a good idea to say the following: "I'd just point out that in 2008, Barack Obama raised more money from Wall Street than any candidate in history."

Full statement from Obama spokesman Greg Sargent

As we announced months ago, President Obama will deliver speeches from time to time. 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 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.

Source: Greg Sargent

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Entourage's picture

That golf must be expensive.

Budnacho's picture

Succulent Hot Dogs just don't grow on trees son...

PrayingMantis's picture

... it's Obumboclot's delayed commission ...


nmewn's picture

"I mean, I do think at a certain point you’ve made enough money." - The Won

Pinto Currency's picture

Listen to Lanny Breuer and Eric Holder explain how they completely avoided laying any charges against Wall Street:

The Veneer of Justice in a Kingdom of Crime

Richard Chesler's picture

Who gives a shitabout homo mulato really?

nmewn's picture

A couple million statists who are trying to convince 320 million people that they owe 10 trillion dollars for the last eight years?

eatthebanksters's picture

He's a repetitve liar...why the fuck should I believe him now. He's a charismatic narcisstic sociopath....he craves attention and wealth...does that explain it for you?

Took Red Pill's picture

 "President Obama will be true to his values"

I'm sure that's true!   His record of waging war was no joke to thousands on the receiving end of his bombs from the Nobel Peace Prize winner. 

wee-weed up's picture



Wall-Street whore? Obozo?...

Yep, but Lib Socialist-true believers will still love him...

As has been stated many times, he could be found with a dead boy in his bed...

And blood on his hands & elsewhere...

And his loyal blind sheeple would still love him!

NewHugh's picture

They have to keep loving him, otherwise their white guilt kicks in.

Well HALF of it does...

InjectTheVenom's picture

charismatic ?

he's about as charismatic as my left nut.


nmewn's picture

That about covers it, outside of being a socialist black nationalist ;-)

SolidAssets's picture

I'm making over $7k a month working part time. I kept hearing other people tell me how much money they can make online so I decided to look into it. Well, it was all true and has totally changed my life. This is what I do... http://bit.ly/2jdTzrM

johngaltfla's picture

Sheeit, biotch! You got now idea how much it costs to bulletproof a golf cart and clean out the Southside to play Putt-Putt.

philipat's picture

But I'm sure that, as a good socialist like Hillary, he will donate all the proceeds to the poor and needy?

johngaltfla's picture

Only a share to his gay gigalo boyfriend dope dealer.

Bigly's picture

That amount will only keep him in blow and dope for 6 months....

Besides, his daughter is now a full fleged party ho and needs weed too....

Paul Kersey's picture

When Obama came back from his first-term Presidential campaign to endorse the "Paulson Plan" (Secretary Treasurer and former Goldman Sachs CEO Paulson), I know he was bankster-owned. Goldman Sachs had been Obama's largest campaign funder in all his political campaigns, including this first Presidential campaign. Then, the day after Obama was elected, he made former Rep. Jim Leach, of the Gramm-Leach-Bliley Act (repeal of Glass-Steagall) his first financial adviser. The fix was in, and the Wall Street banks had a new whore. Obama was a fake lefty Trojan (whore) Horse, and the Wall Street banksters skated for eight more years, when Obama made a Wall Street lawyer his Attorney General.

Obama will make hundreds of millions of dollars as the parasitic wealth extractors pay him for his past, and future, service to them.

junction's picture

Sickening, just sickening.  But expected.  Cantor Fitzgerald staff and the auditors at the Pentagon wedge destroyed by cruise missiles were both working on the Brady "gold" bond ripoff of billions of dollars in taxpayer money.  The exact amount will never be known, dead men and women tell no tales. Cantor Fitzgerald CEO Howard Lutnick was given a warning of the impending attack so he claimed he was at a non-existent parent teachers day meeting at the Horace Mann School on 9/11 but Lutnick let his brother Gregory get incinerated on the 1WTC 106th floor offices of Cantor Fitzgerald. Two Lutnicks missing would be suspicious. The fire was so strong that some people claim a satellite particle beam burned alive the people in the offices before the flames raeched them.

ScratInTheHat's picture

Lithium can be your friend until it isn’t, then it must be Uncle Slam in your head!

BabaLooey's picture


(I'd LOVE to say that to his fraud face)

Raffie's picture


WOW! He is not 'PUTTING' around with his fee.


Home of the slave, and the land of the 400,000$ fee. 

918pigpen's picture

 President Obama will be true to his values,    LOL!!!

Bullshit this COCKSUCKER has none!!!!

GestaltNine's picture

I'd just like to point out he has always been owned by the banks and he gave them trillions so $400,000 isn't even a down payment on what they owe him...is what he should have said but he got much closer to that than most would have imagined 

c2nnib2l's picture

I dont get it.. why is he giving speeches. Not like he does know something about fincances.. that can be valuable to wallstreet. whats the point ?

Budnacho's picture

The point is the return from the banking cartel for Obama pimping out America like tricks for Wall Street...it's called Largesse...

WTFUD's picture

Throughout his Terms the revolving door spun wildly. He'll have bag-men in every office he did dun favours for. Shhhhh !

slicktroutman's picture

His is collecting debts the banks owe him for not prosecuting. Ever hear of money laundering? He is now being paid off legally.

Uranium Mountain's picture

Soon his fiat dollars won't be worth shit and ironically his own doing along with the Fed.  I can only hope he doesn't own any gold except that Muslim ring of his he likes to wear.  

JB Say's picture

No need to explain. Any prostitute on the planet would accept $400,000 for an hour.

ClickNLook's picture

You surely mean: anybody on the planet and on space stations.

Lumberjack's picture



They also were the guys that along with Enron created Renewable Energy Credit trading.

Yes We Can. But Lets Not.'s picture

Sargent's characterization of Obama as 'tough' is ludicrous.

Guy's a total pansy.

SRV's picture

Much worse than you think...


Of course not a single word in any of the media... and no idea what became of OLE Larry but i'm doubting it's good.

Yes We Can. But Lets Not.'s picture

Dunno about Larry Sinclair, but Steve Pieczenik says that Obama and Rahm Emanuel were lovers and says it is widely known that Hillary Clinton is lesbian...


CheapBastard's picture

I heard rumors white supremacists made him take that $400,000.

CrownedCoke's picture

Gotta pay for Chewbacca's reassignment surgery.

WTFUD's picture

According to French Folklore ( MSM ) Obama would win their Presidential Race which is a worry for me that Poodle Macron will pick up additional votes on the back of his much vaunted phone-call.

Yet again another example of election interference by US Shadow Deep State Operatives.

The_Dude's picture

You fucked up... You trusted me!

I'm rich, biatch!!

slicktroutman's picture

Kind of like Trump???? I guess all of them are lying bags of shit. It doesn't matter who you vote for, you get it in the ass either way. Welcome to America. The Deep State runs the show.

slicktroutman's picture

Oh like his Eric Holder stated "the banks are too big to prosecute" .....I just threw up in my mouth.......

LetThemEatRand's picture

Everyone knows Obama is owned by bankers so this is hardly surprising.  At least the new guy didn't fill his cabinet with bankers so we can expect some real change any day now.

SRV's picture

Wearing a little thin there LTER... it is not stuffed with WS bankers (Hs Talking Points... nice). Obama's however certainly was and they actively secured and managed the biggest robbery in the history of mankind.

The $400k is but a down payment for his assistance... oh, and the Barney n Chris bill has been defanged and little if any of the rest has been implemented all these year later. The CME was ordered to establish position limits in the COMEX within two years (the banks push commodity prices around at will with ridiculous outsized positions in the commodity of choice when price moves in an unwanted direction)... stillllllll waiting!

Eddie Baby's picture

The same reason little boy blew.

Ban KKiller's picture

Is there anyone who is not a Fucking bank stooge?! Ummm....no.