Obama's appearance at Cantor Fitzgerald - which lost a significant portion of its workforce in the 9/11 attacks on the World Trade Center - will see him paid nearly double the fee Clinton commanded for her talks at Goldman Sachs in 2015.
He deplored high bonuses paid to bank executives, and said Wall Street shared blame for the 2008 financial crisis. The amount is almost double the fee that Hillary Clinton received for three speeches to Goldman Sachs in 2015, in which she was also criticised. After long stints in public office, speaking engagements are a common way for people to drum up some extra income although it often leads to intense public scrutiny and criticism.
During Mr Obama's two terms as U.S. president he at times seemed to have strained relations with the financial sector.
And just this month, he and former First Lady Michelle Obama were pictured aboard music mogul David Geffen's luxury yacht off French Polynesia.
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"Whether fair or not, it's not hard to look at Wall Street paying $400,000 to Obama as a reward for [the lack of prosecutions for anybody involved in the financial crisis]. A man who always called out Wall Street greed", one Mad World News reader commented on the site's Facebook page.
Fox Business reported Monday, citing unnamed senior people at Wall Street firm Cantor Fitzgerald, L.P., that Obama agreed to speak for $400,000 at a conference run by the firm. I wonder if there's more going on here that we don't know yet? Francoise Djerejian said: "Good for you Mr President, you deserve a lot more and they are lucky to get you!"
The Democrats are still seeking leadership, and their first legislative gain, since Donald Trump's victory. They've enjoyed an extended vacation since January 20, and are in the process of writing their own books.
Neither his officials or Cantor Fitzgerald could be reached to comment on the reports from the U.S., where he is facing criticism for his decision to accept the engagement.
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