The selling of the ex-presidency
Shortly before leaving the White House in 1829, John Quincy Adams reportedly said, "There is nothing more pathetic in life than a former president." If he had had a crystal ball, Adams might have tweaked that statement to say there is nothing more lucrative in life than to be a former president. Last Friday, we learned that the Clintons have made a whopping $109 million since 2001. Bill Clinton has brought in almost $52 million from speeches generally going for $250,000 a pop. He earned somewhere in the ballpark of $15 million from his partnership with billionaire investor Ron Burkle. And don't forget the $15 million advance from his 2004 autobiography, "My Life." So much for the "sacrifice" of public service. But before bemoaning Clinton's selling of the ex-presidency, a little historical perspective is in order. There's nothing original about what the former president has done -- it's just the magnitude of the proceeds. The precedent was set long before he said goodbye to the Oval Office. Clinton's immediate predecessors weren't too reluctant to use their stature to pad their bank accounts. Gerald Ford capitalized on his accidental 2 |
