By J. D. Heyes, editor-in-chief
(NationalSentinel) Politics: All former presidents cash in on their fame when they leave office, but only Democratic presidents do so in such a hypocritical fashion, and Barack Obama is no different.
Reports in recent days have said that he will speak at a Wall Street conference run by Cantor Fitzgerald LP, in which he will earn a $400,000 paycheck. A spokesman for the former president defended both the speech and the payday, which is nearly twice what his former secretary of state, Hillary Clinton, earned for speeches she gave to Wall Street before becoming the Democratic Party’s twice-failed presidential candidate (cue the liberal outrage over pay disparities between men and women).
Spokesman Eric Schultz said that in 2008, then-candidate Obama pulled in more money than any candidate in history, and went on to “implement the toughest reforms on Wall Street since FDR.”
Only, he didn’t. The “reforms” did nothing but add regulatory costs to the banking and finance industries and does not protect consumers from a similar crash like the one which ostensibly triggered passage of the law.
But beyond that, consider: If Obama had signed a piece of legislation that really hurt Wall Street and the financial sector, how likely would it be that any financial sector CEOs would invite him to “speak,” and pay him nearly a half-million dollars to do so?
And yet, there goes Obama, gladly accepting the payola while pretending he’s “done something” to “fix” the industry he so heavily criticized while president.
The nauseating turnabout is too much even for some Democrats to stomach.
“Is there an irony here because he spoke incessantly about the income gap and is now earning from those same people he criticized? Yes it is,” said Hank Sheinkopf, a Democratic political consultant. “Should we expect it? Yes, we should because all former presidents do this. He went on the attack against Wall Street and now he’s being fed by those same people he called ‘fat cats’. It’s more hypocritical than ironic.”
Schultz went on to say that Obama plans to continue to give the occasional speech, but he will devote much of his time to writing his book and “focusing his post-presidency work on training and elevating a new generation of political leaders in America.”
We’ll see how that works out. Obama – like most Democrats – lacks the hypocrisy gene. That means he can justify making millions a year giving speeches and writing books while teaching “a new generation of” Marxists that in order to steal power they must attack “the rich.”