Posted on 11/17/2011 6:08:46 PM PST by bkopto
A war of words between US Representative Barney Frank and Republican presidential candidate Newt Gingrich reached new heights today after a report that the former Speaker of the House earned at least $1.5 million in consulting fees from mortgage giant Freddie Mac.
It all started in October, when Gingrich during a GOP debate suggested that Frank should be imprisoned for his role in the subprime mortgage crisis. “If you want to put people in jail ... you ought to start with Barney Frank and Chris Dodd,” he said, referring to the Newton Democrat and the US senator from Connecticut. Then, following a report by Bloomberg News about Gingrich’s consulting fees from the mortgage agency, Frank today denounced Gingrich as “fundamentally intellectually dishonest.”
“He’s a man with no ethical core whatsoever,” Frank said of Gingrich in an interview with the Globe. “There are a number of conservatives whom I respect … Newt’s just never had any principles, so no I’m not surprised about this at all.”
(Excerpt) Read more at boston.com ...
Fannie and Freddie came out of the Community Reinvestment Act, in the Carter Administration. I was doing mortgages for a Federal S&L, and all of our paperwork was changed in 1977 to reflect the Federal agencies. In order to sell the mortgages on the Secondary market, they had to be Fannie/Freddie certified, and on F/F paperwork.
I think Jamie Gorelick was in there up to her eyeballs.
Same old. Same old. Newt's personal lack of any ethical or moral core undermines any intellectual argument he may be making. His love for the sound of his own voice blinds him to how incredibly unlikable his pomposity is. He can't control his appetites. That's why he's fat and gooey, and why he would accept money from Freddie Mac for no work.
Something about being exposed as a total jerk, fool and fraud by carrying on an extra-marital affair around the 1998 time frame, maybe?
Who know where those mouths have been?
Who is responsible?
1.) Liberals of all stripes
2.) Jim Johnson
3.) Barney Frank
4.) Conservatives like Gingrich who got on speaking podiums in the 90’s with the likes of Jim Johnson to talk about how great it was for Fannie Mae to help all Americans attain “the American Dream of Home Ownership”.
“I am the Banking Queen...”
Frank is just so repulsive. This article was interesting because it shows any sort of criticism gets under his very thin skin. He has skated on the unbelievable damage he’s done to this country because his constituents and his party don’t care because he ‘helped the pooooor,’ but I hold the Republicans to blame for not addressing the damage he’s caused.
The Financial Crisis was caused by too much government regulation, not too little.
Hot bottom was being serviced by his Boyfriend who worked at freddie mac at the time this was all happening
I see.
And exactly what did Newt tell Fannie and Freddie as a paid consultant, and did they follow it.
“If you want to put people in jail ... you ought to start with Barney Frank and Chris Dodd,”....
And what’s the problem with that statement?
“Consulting” fees to pols like Gingrich and Al Gore are nothing more than bribes and back scratching. Corruption, plain and simple. What are Newts qualifications in the home loan and finance business again?
Well, I'm not sure but, didn't he balance the federal budget for the first time in 30 years?
Now, you answer my question. What did he tell Freddie and Fannie? Did they follow his advice?
Which has zero to do with the mortgage business.
Now, you answer my question. What did he tell Freddie and Fannie? Did they follow his advice?
He's been asked the same question, on Gretta last night, and mumbled some BS about strategic advice. They followed his advice the same way Apple followed Al Gore's "advice". You are seriously naive if you believe there was ever any advice. It wasn't advice they were buying, it was influence. It was a corrupt arrangement, where an illegitimate organization - miles in debt to tax payers - directed some of that stolen money to Newt in a quid pro quo, for his potential or real help with stealing more.
Which is exactly how much Freddie has to do with the mortgage "business". It's a "public/private partnership" which has done everything it could to destroy the mortgage business.
You are seriously naive if you believe there was ever any advice. It wasn't advice they were buying, it was influence. It was a corrupt arrangement, where an illegitimate organization - miles in debt to tax payers -blah, blah, blah...
I see.
So in other words, you don't know.
Gretta gave him every chance to explain what that money was for. He declined. Instead he engaging in euphemism, obfuscation, and claimed memory loss. So what is a rational person to conclude? If you want to bitterly cling to the belief that there is nothing corrupt about the arrangement, the turnip truck you fell off of can't be far away, Gomer.
But Newt embracing and furthering the intentionally destructive enterprise, while pocketing a huge sum for himself doesn't bother you. Something compels you to defend corrupt entanglement with of an institution you yourself condemn. Cognitive dissonance much?
Actually I only asked a question.
Project much?
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