Skip to comments.Gingrich of Freddie Mac
Posted on 12/17/2011 8:44:22 PM PST by Steelfish
DECEMBER 17, 2011 Gingrich of Freddie Mac The Speaker's defense is hurting him as much as his $1.6 million payday.
Newt Gingrich's opponents aren't letting up in their criticism of his lucrative ties to the failed mortgage giant Freddie Mac after he resigned as House Speaker in the late 1990s. More damaging to his Presidential candidacy is that Mr. Gingrich doesn't seem to understand why anyone is offended.
In his first response after news broke that he'd made $300,000 working for Freddie, Mr. Gingrich claimed he had "offered them advice on precisely what they didn't do." As a "historian," he said during a November 9 debate, he had concluded last decade that "this is a bubble," and that Freddie and its sister Fannie Mae should stop making loans to people who have no credit history. He added that now they should be broken up.
A week later Bloomberg reported that Mr. Gingrich had made between $1.6 million and $1.8 million in two separate contracts with Freddie between 1999 and 2008. The former Speaker stuck to his line that "I was approached to offer strategic advice" and had warned the government-sponsored enterprises (GSEs) to stop lending to bad credit risks.
Then on December 2 our colleagues at the Journal reported that as late as April 2007 Mr. Gingrich had defended Fannie and Freddie as examples of conservative governance. "While we need to improve the regulation of the GSEs, I would be very cautious about fundamentally changing their role or the model itself," Mr. Gingrich said in an interview at the time.
Mr. Gingrich added in that interview that there are times "when you need government to help spur private enterprise and economic development."
(Excerpt) Read more at online.wsj.com ...
Pimping for Mitt again?
Really? If he somehow got elected do you think he would ever stop surprising us with his off the plantation remarks and actions?
NooT is the devil, true... and knows the democrats better than they know themselves..
With a ring in his nose he can be used..
GB says Newt is a progressive...
“Government is not a solution to our problem, government is the problem” - Ronald Reagan
Who wouldn't agree with that remark?
Seriously? I mean, I’m not all huge on Newt, but of course a true historian could have valuable economic advice.
Lets say his Newts company was paid $1.7 million over the nine years. That comes out to $189,000 per year. With overhead and salaries to pay etc. I don’t see where Newt made any big money on the deal. It looks to me like he was paid for consulting not lobbying as the RINO’s are saying. If everything is on the up and up I don’t see the big deal. Newt was running a private enterprise. Go Newt.
nothing wrong with the article itself but can you fix the headline? Apparently it used an illuminated G for Gingrich which didn’t transcribe.
Lobbying raises questions but this looks like small potatoes as lobbying goes. Anyhow doesn’t Newt want to privatize this mess?
Yes, and here’s Newt on stage with his accuser Bachmann in 2008 making the same explanations he’s making today:
He wasn’t advising Freddie Mac on fiduciary matters.
For "good" or bad, all government does is distort the free market and increase inefficiancies when it plays favorites. And Gingrich is a big fan of playing favorites; why else would he lobby for Freddie Mac?
But I guess youre a big Newtie fan so why should you care that half the crap that comes out of his mouth when he's not under control is liberal-lite inanities
I’d like to be paid a $100,000 per lobster lunch to consult about “history”, to Freddy, like Newt.
But I’d much more prefer to fly to Hawaii with my daughters for $200,000 so my husband could fly a few days later for another $300,000.
Which plane is Bo on? Or is that a third poopy plane?
[ GB says Newt is a progressive... ]
GB says........ NooT likes Prez’s Wilson and both Roosevelt’s who were Progressives..
And they were!.. like I said he is a devil.. Hes not NICE..
Bad news IF you want a nice President..
I don’t.. I want the meanest SOB I can vote for..
Could be Ron Paul as well.. probably can trust Ron.. got to keep an evil eye on Newt..
Government is not a solution to our problem, government is the problem - Ronald Reagan”
Yet he increased the size of Government significantly.
This is why historians (lie Newt at F&F) are needed. You can isolate a few quotes and a few facts and completely distort a total record.
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