Obama Under Fire for Collecting $400,000 to Make Speech at Event for Wall Street Firm

The 44th president will speak at a Cantor Fitzgerald health conference in September.

President Obama has come under criticism after reportedly accepting $400,000 to make a speech for Wall Street investment firm Cantor Fitzgerald.

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The 44th president of the United States will speak at the company's health care conference in September.

In the past, Obama has called Wall Street personnel "fat cat bankers," and has rallied against them.

Critics have slammed the former president for taking on the event.

The Washington Post laid out “Four Reasons Obama’s $400,000 Wall Street Speech Is a Bad Idea.”

Others slammed it on social media:

The former president’s spokesperson, Eric Schultz, defended the speaking fee in a statement saying: “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.”

“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," Schultz added.

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Cantor Fitzgerald has not commented on the matter.

During the September 11 attacks on the World Trade Center, the firm last 658 people — about two thirds of their New York City workforce — after American Airlines Flight 11 crashed into One World Trade Center, where the company had offices on floors 101 through 105.

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