Friday, April 28, 2017

Obama Turns Out To Be A Greedy One-Percenter

Investor's Business Daily ^ | 4/27/2017 | Staff 

Money in Politics: President Obama's devotees no doubt had hoped he would come out swinging against President Trump. Instead, the only thing he's done so far is cash in on his presidency with a massive book deal and a six-figure speech gig.

Earlier this month, Obama reportedly signed a book deal with Penguin Random House for more than $65 million for one book written by him and another written by Michelle. (The exact amount wasn't made public.) Assuming that figure is correct and they both write 500 page books, that amounts to roughly $144 per word for each of them.

After writing 370 words — less than two manuscript pages — the Obamas will have made as much as the typical American family earns in an entire year.

Even though the Obamas are clearing roughly four times what Bill Clinton made on his post-presidential memoir and more than six times what George W. Bush got, the eye-popping advance generated no real controversy.

Not so Obama's decision to accept a $400,000 speaking gig at a health care conference sponsored by Wall Street investment firm Cantor Fitzgerald.
(Excerpt) Read more at investors.com ...

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