At a time when some of the largest banks in the U.S. were struggling to stay afloat, former President Bill Clinton was paid 2.1 million dollars by these failing banks to give 13 speeches.
According to CNS News Service, from 2004-2007 Bill Clinton received these huge speaker fees from banking institutions that we now know could ill-afford such lavish spending.
Do these names mean anything to you? Citigroup. Goldman-Sachs. Lehman Brothers. Merrill-Lynch.
Each of these banking corporations have been in the news in the last 2 months due to bankruptcies, government bailouts, and poor management.
Is it a stretch to assume that the lavish, uncontrolled spending habits of these institutions is one of the factors that led to their dire straits?
Plus, what on earth is Bill Clinton doing speaking to banking institutions anyway?
Clinton is not an economist, nor a banker, nor an investment broker. Yet these muddle-headed numbskulls in the large banks thought it wise to pay him mega-bucks to make speeches for them.
Apparently, Clinton's advice didn't turn out so well. He gave 13 speeches, and the banks failed.
Wednesday, November 26, 2008
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