The Truth About Newt’s Relationship with Freddie Mac (No Scandal, Period)

Newt 2012 ^ | 11-15-2011 | Staff

[katiedidit1]

Yes, Cain was a lobbyist but Newt never lobbyied

[federal__reserve]

Anyone who extracts millions of dollars from a tax payer supported institution such as Fannie & Freddy, has no claim whatsoever on any SMALLER GOVERNMENT meme.

[katiedidit1]

Newt did NOT lobby. He was consulted as a historian which is legal.

[Berlin_Freeper]

Newt: Gingrich/Cain Ticket 'A Real Possibility'

[11th Commandment]

WOW, the scandal here is the Fannie and Freddie paid Newt $1.6M and did not take any of his good advise. I wonder how much they paid for the bad advise???? What a bunch of MAROONS!

[USS Alaska]

Newt should not have accepted $300K in tax-payer dollars for consulting for a moribund bureaucracy.

You are off by a factor of 6; it was $1.8 Million and I have no problem with Newt making money with a legal contract.

Herman is my guy and I just donated again this week but Newt would be my back up if Herman fades.

[katiedidit1]

Do you know that we pay top dollar to ex military brass for advice? in the millions? to engineers for highways? in the millions. Newt was offered the pay for his advice ...nothing illegal at all.

[achilles2000]

You identified the problem exactly. He is a welfare state “conservative” - the more efficient, smarter version of the Ds.

[federal__reserve]

Where did I say it was illegal? Please read again, this time carefully, my post. Newt is a big government politician when he happily extracts millions of dollars from any tax supported institution. If you are happy with GWB’s control of government size, you will be ecstatic when Newt takes over.

[Logical me]

Rush talking about this now. Newt warned Fannie Mac that loans to people that could not afford is wrong. Newt haters will never be convinced that Newt is the top man for President. They are too busy living in a bias against truth. Newt for President would be a blessing for America and he would destroy King Obama.

[avacado]

"Therefore, on numerous occasions in meetings with Freddie Mac, Speaker Gingrich advised that a business model that involved lending money to people with bad credit and no money down was unsustainable and a bubble, and that it was dangerous to buy securities made up of these mortgages."

$1.6 million bucks for that advice? Sheeze... I feel like such a whore, I'd have done it for half that price.

[PalinPlease]

A historian? Ha, that’s a laugh.

Next you’ll say that all the payoffs Obozo got from Acorn were legit because he was consulting as a Community Organizer????

Where there’s stink there’s someone who stepped in it. And it seems to be getting deeper.

[drjimmy]

Rush talking about this now. Newt warned Fannie Mac that loans to people that could not afford is wrong.

If Rush was in the room when this warning was being given, he should have told us sooner.

[TitansAFC]

You should post that as a thread

[9YearLurker]

Adding Newt’s recommended big-government savings and budgeting training wasn’t going to make it better.

[katiedidit1]

Have you looked at Cain’s empowerment/opportunity zones? it concerns me.

[katiedidit1]

Therefore, on numerous occasions in meetings with Freddie Mac, Speaker Gingrich advised that a business model that involved lending money to people with bad credit and no money down was unsustainable and a bubble, and that it was dangerous to buy securities made up of these mortgages.

[katiedidit1]

ditto ^5

[9YearLurker]

I agree. Just Cain’s empowerment zones are a nonstarter to me, let alone his appalling, cavalier ignorance on foreign affairs.

We are really in tough shape here looking for a presidential candidate.

[katiedidit1]

You should read about the paid consultants giving advice to agencies from the US Post Office to the Dept of Transportation and The Defense Dept. It is legal and once the advice is offered (good or bad) it is up to those in charge on whether to take it.
OH ...12 freddie mac ceos received 35 million in bonuses between 2009 and 2010. Taxpayers will end up paying 220 billion in bailouts by 2014. Rep Baccus introduced legislation to end their bonuses...