Democratic
presidential candidate Bernie Sanders this week assailed rival
Hillary Clinton for taking large speaking fees from the financial
industry since leaving the State Department.
According to
public disclosures, by giving just 12 speeches to Wall Street banks,
private equity firms, and other financial corporations, Clinton made
$2,935,000 from 2013 to 2015.
[...]
Clinton’s
most lucrative year was 2013, right after stepping down as secretary
of state. That year, she made $2.3 million for three speeches to
Goldman Sachs and individual speeches to Deutsche Bank, Morgan
Stanley, Fidelity Investments, Apollo Management Holdings, UBS, Bank
of America, and Golden Tree Asset Managers.
The
following year, she picked up $485,000 for a speech to Deutsche Bank
and an address to Ameriprise. Last year, she made $150,000 from a
lecture before the Canadian Imperial Bank of Commerce.
To put these
numbers into perspective, compare them to lifetime earnings of the
median American worker. In 2011, the Census Bureau estimated that,
across all majors, a “bachelor’s degree holder can expect to earn
about $2.4 million over his or her work life.” A Pew Research
analysis published the same year estimated that a “typical high
school graduate” can expect to make just $770,000 over the course
of his or her lifetime.
This means
that in one year — 2013 — Hillary Clinton earned almost as much
from 10 lectures to financial firms as most bachelor’s
degree-holding Americans earn in their lifetimes — and nearly four
times what someone who holds only a high school diploma could expect
to make.
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