No, she did NOT lie about Newt, and you know that.
"Governing & Political Change" held in St. Paul, Minnesota.
September 3, 2008
Bachmann: The question is on Fannie Mae and Freddie Mac and the outrage and will it go private? or where are Fannie Mae and Feddie Mac going to go?
Gingrich: Well, I think this is one of the great tests of reform - of a populist reform conservatism.
There is ZERO reasons to bail out these two institutions.
They have violated the fundamental principle of why they were created.
And I did a fair amount of-... Let me be right up front... I did a fair amount of work with Freddie Mac, looking atit, consulting it, but not at a fiduciary level, but at a general public policy level.
I am appalled at the degree of management irresponsibility that both places have had, and I think they should be treated precisely like a private sector institution, And the stockholders, and the senior management should fundamentally have to bear the brunt... I don't think you want to let them go broke, because they're enormous, and that has a BIG second and third order consequence on the system.
But I think what you want to say, is as a consequence of their survival, they should be broken up, they should go thru the equivalent of a receivership, and everybody who was profiting from them should pay the cost of having failed.
And the general taxpayer should NOT bear that burden. and I think that could be handled totally different.
But there is ZERO reason, now that they've failed... I was perfectly happy to to not PUSH the issue, as long as they weren't failing, but NOW that they've clearly failed their fiduciary responsibility, there is zero reason for the average taxpayer to bail out these institutions.
And their senior managements have been DISGRACEFUL in the mismanagement, particularly I think, of Fannie Mae which had huge, huge, internal problems in terms of accounting, in a way you can't quite understand...
How could people run an institution THAT badly?
and there's a video if the transcript is too daunting for you... Michelle is standing right behind Newt... I don't if it is in this video, but she also said some very positive things about Newt... whom she now depicts as a greedy Washington insider...
http://www.youtube.com/watch?v=-YiYWnA1_y8&feature=player_embedded