Once the President of the United States becomes a former President, as a private citizen they are allowed to take an absorbent amount of money in speaking fees from a company or corporation.

In fact, most former Presidents do.

Former President Bill Clinton has earned an estimated and egregious $100 million in fees for public appearances since leaving office.

But former President Obama has always had this elitist moral high ground attitude, which was defined in the midst of the 2008 economical crisis when he attacked Wall Street as being greedy.  Obama specifically called them “fat cats.”

However, now that Obama’s 3-month long vacation is over, he’s making a comeback into the public eye – and it’s clear in one of his upcoming speaking engagements that the former President has decided to change his tune and become Wall Street’s newest “fat cat” himself.

The New York Post reports:

“Former President Barack Obama, less than 100 days out of office, has agreed to speak at a Wall Street conference run by Cantor Fitzgerald LP, senior people at the firm confirm to FOX Business.

His speaking fee will be $400,000, which is nearly twice as much as Hillary Clinton, his secretary of state, and the 2016 Democratic Party candidate, charged private businesses for such events.

Obama has agreed to speak at Cantor’s health care conference in September and will be the keynote luncheon speaker for one day during the event, people at the firm tell FOX Business.

These people say Obama has signed the contract, but the company, a mid-sized New York-based investment bank, is waiting to coordinate with the former president before making a formal announcement.

A spokesman for the former president didn’t return a call for comment; a spokeswoman for Cantor said the firm is not in a position to comment just yet, but would not deny that Obama has agreed to speak to the firm and at the $400,000 fee.

News of Obama’s speaking deal with Cantor, which had yet to be reported, comes as the former president on Monday made his first public comments since leaving office after an extended vacation.

In those comments to college students at the University of Chicago, the president spoke broadly about the need for public service and studiously avoided any mention of the current president, Republican Donald Trump, or how he intends to make a living now that he’s a private citizen.”

But Barack and Michelle Obama just signed a record joint book deal of $65 million in exchange for a memoir from him and a separate unknown book from her.

So it’s obvious that the Obama’s don’t exactly need this $400,000.

And yet he’s willing to sacrifice his moral authority in order to make “chump change” compared to the millions with his book deal?  That speaks volumes to his character.

The New York Post continued:

“It’s also likely to be a source of criticism against the former president given Obama’s record of attacks against Wall Street bankers for making huge salaries while average Americans were suffering from the ravages of the 2008 financial crisis.

Obama, a progressive Democrat, spoke frequently about Wall Street greed during his eight years as president, and now he’s accepting a speaking fee from the industry he singled out as the main culprit of the banking collapse.

‘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.’

Another irony: Obama will be speaking at a health care conference at a time when his signature piece of legislation — ObamaCare — could be radically altered by Trump and a Republican Congress. Given the September date of the conference, Obama may be forced to address problems with the controversial health care law, such as massive premium increases, if the GOP repeal doesn’t take shape by then.”

But the issue here isn’t the insane amount Obama will earn for a short public appearance, but the hypocrisy of now taking these “fat cat’s” money while maintaining an illusory superiority.

So he better donate it to charity.