Skip to comments.Newt Gingrich's Freddie Mac Contract Released
Posted on 01/23/2012 4:25:59 PM PST by Utmost Certainty
Document Shows No Lobbying By Former Speaker
ATLANTA - The Gingrich Group, LLC today announced it is releasing a contract written by Freddie Mac for consulting services it contracted with the organization.
Subject to a conversation between our counsel and Freddie Mac, we have received permission to release the attached contract, said Nancy Desmond, Chairman and CEO of the Gingrich Group. As noted under the scope of work section on Page 14, the contract was solely for consulting purposes and not lobbying.
Freddie Mac and The Gingrich Group have agreed that this release is limited to the contract alone and does not constitute a general release of the confidentiality provisions between us, Desmond added. Newt Gingrich relinquished his ownership in the company in May 2010 when he announced his bid for President of the United States.
I have no idea why you are upset. This thread was not posted by me and I’ve been saying all along that Gingrich worked as a consultant, never as a lobbyist.
That the contract was released is interesting, but it doesn’t tell us what he advised Freddie Mac, thus the nondisclosure clause isn’t violated.
So, what’s your real beef?
(Aside from using this as an opportunity to be insulting.)
OK, I’m correcting myself! LOL
The Center for Healthcare Transformation is a group associated with the Gingrich Group - which is the company that Newt was contracted through. The company itself (which no longer employs Newt) had to work with Freddie Mac to OK the release of what is their business records and not Newt’s personal property. It was also covered by a confidentiality agreement. It had to be released through the company’s channel’s as it didn’t belong to Newt or his campaign.
See post #41 above. The Center for Healthcare Transformation is the new name of The Gingrich Group, which it took when it limited its activities to consulting for the healthcare industry. Odd though it seems, it is thus the same company that consulted for Freddie Mac, rebranded because it would no longer consult for Freddie Mac (or other non-healthcare-related clients).
He can’t even figure out how to get someone to wash his underware, how’s he gonna figure out how to be president??
“Experts” in NY get ~$600/hr.
Patience, grasshopper. Newt will lay that little land mine when it will do the most damage...
The only reason Newt was hired was to convince the GOP in Congress to back off from more oversight.
I doubt even Newt figured it out at the time, not like it (oversight of Fannie-Freddie) was a huge media story at the time.
Anything under $300.00 per hour is cheap for high service. Been there paid there and gained little.
(Aside from using this as an opportunity to be insulting.)
Hold it. You told me to take a nap when you know perfectly well that my name “napscoordinator” has NOTHING to do with that. Secondly, you basically told me that I did not support Newt (which is 100 percent not true) because I mentioned about the Freddie contract getting released. You told me that I was this horrid Romney supporter which again is not true. I have know you a long time and always respected you but when you call me a Romney supporter of all things that is DEFINITELY below the belt. You can call me an ahole and that is better than a Romney supporter. Anyway, looking forward to the debate as I am sure you are too. The girlfriend thing was in jest and you knew it. Are we that serious right now that we can’t joke with each other? Especially among two people who have posted back and forth for years?
It is almost sad, Mitt is the Bull and the two Matadors at this point are Mr Newt and Sarah.
Speaking of bull, boy did she do a number on the Jersey Dirigible..
Navy Aviators had a name for them when they were in use ( based out of NJ if my memory is correct) but this is a family program...
He (Newt) had since turned his attention to a number of policy issues, and healthcare seemed to be No. 1. He founded the Center for Health Transformation in 2003, which recently has come under fire for bringing in millions in membership fees from entities such as AHIP and the American Hospital Association.
I heard on Rush that Milt was using Charlie Christ’s team of advisors in FL! That’s just funny.
Yeah. I read that on FR. But I believe he’s also using Steve Schmidt. I *think* that’s the name. If I remember right, McCain was using Dems and Romney people. And Schmidt was one of them.
Wow, my billing rate is more than that. And, I'm not any high powered consultant/lawyer. I'm just a specialized IT consultant.
Of course, I don't get all of it. But, that's how much my company clients pay.
Oh he knows and so do the media. Problem is how many of the people know. The media know all they need to do is keep repeating the lie, and the sheeple will believe them.
Ah, Schmidt...isn’t he the one who’s always smearing Sarah? That slime ball? Good luck with that, Milt.
I think Romney's been playing dirty tricks for quite some time.
Like destroying ALL his governorship records. Legal, but what did he have to hide?
When I click on your link I get black pages. Does anyone else?
That too. But having his “team” work for other candidates and undermine them. Leaks and whispered lies. That kinda thing.
Exactly. And Newt didn’t get all of it either. His company gets it, and it covers overhead, administrative staff, liability insurance, etc.
So all this talk about Newt getting “millions” or even “1.5 million” from Fannie Mae is BS. The money came in over a period of years, and as the contract indicates, it was paid at a maximum of $25,000 per month, at a completely reasonable billing rate for Newt’s services.
But you watch, someone will bring up how Newt made/charged all this money “while Americans were hurting and losing their houses.”
can not wait.
can not wait.
“Yet Obama wont release records on his life and Romney is hiding all sorts of secrets.”
Newt Gingrinch must hammer home both of these points. He released his tax returns, which show that he made money but also paid almost 1/3 of it in taxes. Romney has had to be dragged kicking and screaming into releasing his returns and, according to him, he probably paid less than 1/2 of Gingrinch’s rate.
As for the Bamster, Newt should also release his college transcripts immediately and ask why Obama won’t do the same! If he brings it up in a debate it may finally hit the mainstream press, no matter how hard Carney tries to change the subject!
Mitt’s got Charlie Crist’s ex-campaign staffers working for him in Florida. I’m not kidding.
Newt has Marco Rubio’s campaign manager working for him in Florida. I’m not kidding about that either.
Gingrich is a smart cookie. Slick Willard thought he could simply buy the WH.
Go Newt - fight fire with the facts! FUMR!!!!!!!!!
Fred Thompson was just on Hannity announcing his endorsement for Newt
Just heard Andrea Mitchell on NBC say that Romneys tax filings will show that he has investments of over $500,000 in both and Fanny and Freddie Mac...and he has the audacity to attack Gingrich.
I hope Newt does not release too much. Better to keep his stuff as a carrot for Obama so he can ask Obama to release all the things he’s hiding (if Newt becomes the nominee).
I just got back on FR. GREAT NEWS about Fred!!
Thanks for the ping!!!
He should charge a lot more!!
How else will Calista be able to continue spending hundreds of thousands of dollars at Tiffany and Co??
Shouldn't that be 2011? Hate for them to start off with saying it's in error because of that!
As for the Bamster, Newt should also release his college transcripts immediately and ask why Obama wont do the same!
* * *
Yes, Newt should do exactly that - release EVERYTHING - but not now. He should do it about an hour before his first debate with Obama. (My guess is that, under pressure, Obama will agree to two debates.) Then Newt can ask, “So, Mr. President, you and your staff have seen my information. Where is all YOUR information?” . . . and watch Bambi stutter along without his teleprompter to help him. Good times!!! ;o)
What I don't understand is why anyone would think Freddie Mac would hire Newt to lobby for them . . . in 1996, the dems were poised to take Congress, Freddie Mac had the dems in their back pocket (probably some GOPers too), the dems hated Newt, the GOP-E hated Newt. Plus Newt does have rather an abrasive manner (personally I like his personality -- LOL).
As far as I can see, Freddie Mac was sitting pretty (and way prettier than Newt); it would be more credible that Newt would hire Freddie Mac to lobby for him.
Maybe I just don't understand the lobbying/influence-peddling business . . . wouldn't be the first thing I didn't understand . . . :(
Actually I believe that is only part of it, they can’t “find” the rest.
“Lol...we pay expert programmers that rate.”
PeopleSoft and SAP come to mind. $175/hour and up.
That's not exactly an accurate description of the contract's terms. He wasn't paid by the hour, he was paid a flat rate of $25,000 per month, without regard to how many hours he worked. The hourly rate people have been discussing in this thread is based on that monthly rate, and assumes that Newt worked 20-40 hours a week on this contract. There is no indication, in the contract or anywhere else, of how many hours/week Newt worked under this contract.
Wouldn't it also have covered, say, research assistants, with the costs of overhead and secretarial calculated in?
And we can certainly over-analyze it if we want to.
I broke it down to an hourly rate for easy mental comparison, because we can assume that the Gingrich Group did SOME work for that $25,000, as opposed to it being a "retainer" where the Gingrich Group does no work but is on standby in case the client needs to use them. The $25,000 was to be paid "in exchange for" the Gingrich Group providing "consulting and related services as requested."
So you're right, it was not an hourly rate, it was a lump sum for a full month, assuming SOME work was done during that full month.
This emphasizes what I was saying to those who said Newt should release everything that Romney demanded -- Newt doesn't control what can be released, he's under confidentiality agreements.
The only way for Gingrich to put this “issue” to rest TOTALLY
is to offer some accounting for the ACTUAL work, what group of people worked on it, how much research it involved, and what the final report was, and how his conclusions about the Fannie/Freddie operation were arrived at, in reference to the conclusions the research and evaluation finally arrived at.
Otherwise it will look like Newt was just in it to bilk the taxpayer, in concert with Fannie and Freddie. We know all the final conclusions of the Gingrich Group were NEGATIVE, and the interesting thing is of course that the criticism for Newt’s involvement AT ALL with Fannie/Freddie could ONLY come from his GOP opponents, not the Left.The Left couldn’t get much mileage out of badmouthing anyone’s evaluation of this beloved institution of theirs just because the final objective evaluation of it was negative.