Skip to comments.The Problem with Freddie Mac was the Bailout, Not Newt Gingrich
Posted on 12/19/2011 3:23:12 PM PST by TBBT
One of the more interesting examples of the Washington establishments hypocrisy in todays Republican presidential campaign is the bashing of Newt Gingrich over his consulting work for Freddie Mac.
The other campaigns all know Gingrich opposed the Bush-supported bailout of Freddie Mac, and its evil twin Fannie Mae, and that Gingrich even went before a meeting of House Republicans to rally opposition to the bailout saying, it's an absurd bill. If a Republican administration wasn't supporting it, it wouldn't get five Republican votes.
In particular, Congresswoman Michele Bachmann (who should have been at that 2008 meeting and has received political contributions herself from employees of Freddie Mac) seems to have conveniently forgotten Gingrichs principled opposition to the bailout.
And what should we think about the Bush administration officials who are now supporting and advising Governor Romney who conceived of the bailout Gingrich opposed?
Those who are savaging Newt are cynically hoping voters can be convinced to forget that Gingrich opposed the bailout and they are doing everything they can to transfer voter anger about the bailout on to the former Speaker.
But in their cynical trashing of Newt Gingrich, they are all too willing to ignore the fact that there was a time -- not that long ago -- when many Republicans and conservatives thought that government should encourage citizenship and the development of strong families and a virtuous yeoman-like middle class.
(Excerpt) Read more at conservativehq.com ...
Freddie Mac’s problems started long before the bailouts
Newt Gingrich was hired to encourage the Congressional GOP not to increase oversight of Fannie-Freddie.
That is why he is being criticized.
He had a hand or at least a finger in creating that mess.
A “model organization” my big toe.
Well, well... in their trashing of Conservatives with a problem with fannie or freddie... and/or newt working for them... they ignore two things.
1) Conservatives have EARNED their cynicism.
2) Conservatives knew that these corrupt entities were being forced by progressives to loan money to people that had absolutely no way to pay these loans back... we knew that all of this would end badly... and President Bush tried on 18 different occasions to stop this toxic asset scam... but progressives that ARE the dim party and progressives in the republican party blocked every attempt to do anything about it... and they blocked it for years... and newt should have known better... Bush knew... most of us... in fact... did know .
The real problem with Freddie Mac and Fannie Mae, is that they exist.
Obama, when he served as Senator for a scant two years, was the second largest recipient of Fannie & Freddie Congressional campaign contributions, getting $126,349. Help me to understand why Newt’s consulting work is an issue, but Obama’s contributions from Freddie and Fannie are not an issue.
Michelle Bachman received $8,850 in Freddie and Fannie campaign contributions and — get this — Ron Paul received $3,500. What was Paul saying in the last debate. . . something like government sponsored entities are akin to facism? Funny.
No, there were many other problems, especially including an overly cozy relationship with the legislative and executive branches of the federal government.
Tue Dec 13, 2011 at 10:23 AM PST.
Not just Newt Gingrich: Mitt Romney profited from Freddie Mac too
Will you please tell that to Michelle Bachmann and Mitt Romney
Did Bachmann or Paul give the campaign money back?
Gingrich was taking money from Freddie Mac long before the bailouts.
The problem with Freddie Mac is the whole concept of a pseudo private behemoth being a near monopoly mortgage holder having the protection of Government.