Speed Reads

one is not like the other

After swearing he was 'not going to Wall Street' to make a lot of money, Obama is reportedly going to make a lot of money off a speech for Wall Street

Former President Barack Obama is reportedly going to make a nice $400,000 this year off a speech at an annual health-care conference hosted by the Wall Street investment bank Cantor Fitzgerald. The speech is one of many that Obama will make as he embarks on a paid-speech circuit. He's lined up a gig at the John F. Kennedy Library and Foundation in Boston, a public conversation with German Chancellor Angela Merkel, and some speeches in Europe, The New York Times reported.

Obama's speech at the Cantor Fitzgerald conference is unique, however, in that he'll be earning a lot more money than his predecessors have made from similar speaking engagements. The New York Times said former President Bill Clinton made about $200,000 per speech, while former President George W. Bush made between $100,000 and $175,000.

Moreover, that big wad of cash will be coming from a conference sponsored by Wall Street, which Obama frequently criticized during his presidency. Obama pushed for regulations and blasted big banks during his two terms in office, but at the same time The New York Times noted he also "courted Wall Street donors and other wealthy supporters."

On his way out the door though, Obama swore he was "not going to Wall Street" to cash in, NBC News' Bradd Jaffy recalled Wednesday:

The Financial Times noted in a report Tuesday that while Obama has reportedly said he would give the conference's keynote speech for the agreed-upon fee, he did not say what he would do with his earnings. Talking Points Memo noted he's also free to "back out based on scheduling or personal concerns."