Quantcast

Gingrich says he received Freddie Mac compensation

Foxy Warrior Guru 2011/11/16 22:06:15
Gingrich says he received Freddie Mac compensation





  • In this Nov. 12, 2011, photo, Republican presidential candidate former House Speaker Newt Gingrich, speaks at a debate in Spartanburg, S.C. The Republican presidential hopefuls are focusing on Iran as a weak spot in President Barack Obama’s foreign policy record, and they’re reviving many of the arguments that neoconservative proponents of armed intervention against Tehran lost in the latter years of George W. Bush’s presidency. "There are a number of ways to be smart about Iran and relatively few ways to be dumb, and the administration skipped all the ways to be smart," said Gingirch at the debate. (AP Photo/Richard Shiro)

URBANDALE, Iowa (AP) — Rising in national polls, Republican presidential candidate Newt Gingrich found himself on the defensive Wednesday over huge payments he received over the past decade from the federally backed housing agency Freddie Mac.





Gingrich said he didn't remember exactly how much he was paid, but a former Freddie Mac official said it was at least $1.5 million for consulting contracts stretching from 1999 to 2007. The official spoke on condition of anonymity to discuss a personnel matter.


Speaking with reporters in Iowa, Gingrich said he provided "strategic advice for a long period of time" after he resigned as House speaker following his party's losses in the 1998 elections. He defended Freddie Mac's role and said, "every American should be interested in expanding housing opportunities." Long unpopular among Republicans, the federally backed mortgage lender has become a focal point of anti-government sentiment because of the housing crisis.


On Tuesday, a House committee voted to strip top executives of Freddie and its larger competitor, Fannie Mae, of huge salaries and bonuses and put them on the same pay scale as federal employees.


In 2008, Gingrich suggested in a Fox News interview that then-presidential candidate Barack Obama should have to return campaign contributions he had received from executives of Freddie Mac and Fannie Mae. He said that in a debate with Obama, GOP presidential nominee John McCain "should have turned and said, 'Senator Obama, are you prepared to give back all the money that Freddie Mac and Fannie Mae gave you?'"


Gingrich sought Wednesday to portray his role as a sign of valuable experience.


"It reminds people that I know a great deal about Washington," Gingrich said Wednesday. "We just tried four years of amateur ignorance and it didn't work very well. So, having someone who actually knows Washington might be a really good thing."


Gingrich's history at Freddie Mac began in 1999, when he was hired by the company's top lobbyist, Mitchell Delk. He was brought in for strategic consulting, primarily on legislative and regulatory issues, the company said at the time. That job, which paid about $25,000 to $30,000 a month, lasted until sometime in 2002.


In 2006, Gingrich was hired again on a two-year contract that paid him $300,000 annually, again to provide strategic advice while the company fended off attacks from the right wing of the Republican Party.


Freddie Mac and Fannie Mae for years had been under scrutiny from Republicans on Capitol Hill who opposed government involvement in the mortgage business and wanted to scale back the companies' size and impose tough regulation.


In last Wednesday's Republican presidential debate, Gingrich sought to explain his role at Freddie Mac as that of an "historian" sounding dire warnings about the company's future. He said Freddie Mac officials told him "we are now making loans to people that have no credit history and have no record of paying back anything, but that's what the government wants us to do." He said his advice was to tell them, "this is insane."


Former Freddie Mac executives dispute Gingrich's description of his role.


Four people close to Freddie Mac say he was hired to strategize with his employer about identifying political friends on Capitol Hill who would help the company through a very difficult legislative environment. All four people spoke on condition of anonymity to be able to discuss the personnel matter freely.

Read More: http://news.yahoo.com/gingrich-says-received-fredd...

You!
Add Photos & Videos

Top Opinion

  • luvguins 2011/11/16 22:35:28
    luvguins
    +15
    I would love to see him defend that in a debate with the president, also his major role in the government shutdown, being kicked out by his own party as Speaker, and paying a $300,000.00 fine so they wouldn't impeach him. Gingrich's baggage has more baggage.
    He's known as the most divisive Speaker ever, though Boehner is giving him a run for that dishonor now. Other Republican candidates will be attacking him shortly if he stays up in the polls for this misdeeds, and for dissing Paul Ryan's Medicare grab plan.

Sort By
  • Most Raves
  • Least Raves
  • Oldest
  • Newest
Opinions

  • Che Guevara - Hero 2011/11/18 16:02:39 (edited)
    Che Guevara - Hero
    +3
    Gotta love it. Don't the Tea Party claim Fannie Mae and Freddie Mac caused the collapse of our economic system ? I wonder how the are going to talk their way out of this fiasco.
  • HL 2011/11/18 03:09:18
    HL
    +6
    Presidential pretender Newt Gingrich is doing this because he can now double his speaking fees and at the end he'll get his own show on Faux news.

    That aside, you have to deeply admire a man who loves his country so much and worked so hard for America it forced him to cheat on his wife.
    Newt Gingrich retard
  • oldcavpilot 2011/11/17 17:34:51
    oldcavpilot
    +5
    Can't wait for the Evangelical Christians to justify and support his marital 'indiscretions' like cheating on his dying wife. Truly a Christian model of propriety.
  • aneed2know 2011/11/17 08:00:19
    aneed2know
    +9
    And guest what the conservatives will buy this excuse, they want anyone but Mitt. The sad thing is they will be stuck with Mitt and there is nothing they can do about it.
  • Darkitec 2011/11/17 05:24:38
    Darkitec
    +7
    I keep wondering why any Senator is getting a luxurious government salary, and perks, if they are also getting huge bucks from another source. And this doesn't even count the insider trading that they've been involved in. They are supposed to be working for us, Not to pad their own bank account.
  • aneed2know Darkitec 2011/11/17 08:02:24
    aneed2know
    +6
    Amen no matter what your political affiliation is. Amen
  • AnnForTruth 2011/11/17 03:13:01 (edited)
    AnnForTruth
    +8
    Newt Gingrich is a proven liar, time and time again. And you'll stop. He was paid for his historian expertise and not lobbying. He's a goner too. Lying Newt Gingrich
  • matt 2011/11/17 03:06:05
    matt
    I'm not sure if I would trust anonymous people that disputes Gingrich. Seems we have some anonymous woman are attacking Cain. At least the charges are Anonymous. Does this seem coincidental that this is happening with so many candidates? I think Obama is using his whole playbook to make everyone look bad.
  • aneed2know matt 2011/11/17 08:03:34
    aneed2know
    +8
    Say what, there is paper work that can prove these alegations, how is this Obama?
  • Bilingu... matt 2011/11/17 09:06:47
    Bilingual required sucks
    +6
    Obama doesnt have to lift his little finger, the Republicans had major defects and they are all coming to light. Nice try to blame Obama but they are ruining themselves.
  • BlackSouth matt 2011/11/17 21:44:37
    BlackSouth
    +5
    Oh now it's Obama's plan of total domination. Wait. I thought the Republicans were against Fanny Mae and Freddie Mac before Obama?
  • BlackSouth BlackSouth 2011/11/17 21:45:43
    BlackSouth
    +3
    I wonder how Gingrich's conservative voting record stand up to Ron Paul's also his moral values. Ron Paul 2012
  • AnnForT... matt 2011/11/18 13:45:58
    AnnForTruth
    +3
    Why must everything not in favor of righties be caused by President Obama? An executive at Freddie Mac corrected Gingrich lies. When it comes to Cain maybe those women was offered additional monies.
  • BlackSouth matt 2011/11/27 22:49:33
    BlackSouth
    +1
    Obama didn't make Newt take the money.
  • TrueRedWhite&Blue 2011/11/17 02:41:16
    TrueRedWhite&Blue
    +5
    Busted, sucking at the taxpayers teats, He's been doing this for FAR TOO LONG.
    Just what we need another lifer political minion with a bunch of smoke and mirrors for answers to WTF is happening to this nation. Although some of what he has said has made sense, like reinstating the Glass Speigel act.
    HONESTLY Ron Paul is the last HONEST hope for this country.
    His opinions may not be popular BUT he doesn't change them to suit the purpose, That is deceptive practice, ALL the other candidates use.

    Google "Alvin and Heidi Toffler & Newt Gingrich." He has written forewords for two of their "Globalist Government " books. That should speak VOLUMES on what he believes is best for America.
  • A Founding Father 2011/11/17 01:43:25
    A Founding Father
    +5
    Well, "Isn't that just special?", the Church Lady would exclaim. Call it by any other name and it comes out the same ........... Gingrich was a paid lobbyist for Freddie Mac or for the banks that were making $Hundreds of Billions in fees and profits from the loans that FM and FM were buying. He was just another whore in the happenings. What "legislation" did he propose, and why did FM need someone to explain legislation to them, they are all
    graduates of law schools and most have some experience practicing law.
  • luvguins A Found... 2011/11/17 03:05:07
    luvguins
    +8
    I don't know many historians that make 1.5 million for consulting. He was lobbying Repubs to not hold an investigation of Freddie Mac at one point. That and a lot of other baggage will bury him.
  • A Found... luvguins 2011/11/17 03:23:29
    A Founding Father
    +8
    Wanna bet the Repub call for "invetigations" will never be heard again?
  • luvguins A Found... 2011/11/17 03:42:57
    luvguins
    +7
    No doubt here,
  • Brian luvguins 2011/11/23 00:44:07
    Brian
    +1
    He's a historian? Like a teacher? Teachers are all lazy union supporting commies aren't they?
  • luvguins Brian 2011/11/23 01:48:59
    luvguins
    +2
    I think Congress is unionized. They get automatic raises without debate. Who is responsible for that when 58 of them are in the 1%?
  • jdemme 2011/11/17 01:32:48
    jdemme
    +6
    Should we really be that surprised?
  • aneed2know jdemme 2011/11/17 08:04:26
  • Joe C Sr 2011/11/17 01:28:24
    Joe C Sr
    +1
    So what.He worked for it. Many in Congress are allowed to do insider trading.Do you think that is better or worse than Newt collecting money for working.Lincoln/Douglas debates,get em on. Can't wait to observe.
  • Someone Else 2011/11/17 01:25:19
    Someone Else
    +1
    Yah so how much did Barney Franks and Chris Dodd recieve
  • A Found... Someone... 2011/11/17 01:45:39
    A Founding Father
    +6
    Look it up, ask them, look at their income tax returns... answer the same NOTHING, NOT A PENNY.
  • F-18 IN... A Found... 2011/11/17 01:51:29
    F-18 IN GOD WE TRUST
    Now Your putting a liberal spoiled brat spin on the issue
  • A Found... F-18 IN... 2011/11/17 01:56:05
    A Founding Father
    +7
    When you can tell me how much either Dodd or Franks were given for any part in the scheme of making loans to unquaified buyer of overpriced homes, I will apologize to you for calling you "another RWNJ". I promise.
  • F-18 IN... A Found... 2011/11/17 02:30:53
    F-18 IN GOD WE TRUST
    If you are so brilliant and have all the answers why as me to look up the the records of two of the biggest crooks in this nation. along with that SOB president of yours. you liberal jerks are all the same, all you can do is cry,cry, cry and steel from the producers of this nation.
  • Foxy Wa... F-18 IN... 2011/11/17 02:54:09
    Foxy Warrior Guru
    +7
    I've got to chime in here to say that was the best deflective backpeddling to get out of answering a question you can't answer because you know you can't find any nonexistant proof and you would be busted wide open if you tried to answer, that I've ever seen.
  • F-18 IN... Foxy Wa... 2011/11/17 03:28:08 (edited)
    F-18 IN GOD WE TRUST
    Well (Foxy) after reading your comment twice I am still confused as to your point. My point is Franks & Dodd are crooks of the worst kind as is your President. The present administration has been the most destructive to the economy, the American people, and ow-er international friends. They have totally destroyed any respect we may have had in world. They continue to disrespect the Constitution and the first amendment. They continue to steel and pillage this nation every day. It will be through the grace of God and the true Patriots that will save this Nation.
  • Foxy Wa... F-18 IN... 2011/11/17 04:55:40
    Foxy Warrior Guru
    +7
    My point is he asked you to provide some proof of your ridiculous statements, and like all conservatives, you backpedaled, resorted to name calling and refused to give any kind of answer, which clearly indicates that you have no answer because you know he speaks truth and can only fall back on the lame old, "well you're a liberal so I win" argument. Even your comment to me here refuses to address the original piont and only erodes into an anti-liberal diatribe full of talking points about the "crooks" in this administration and how they "steel and pillage this nation every day" (btw *steal*), of which there is absolutely no real proof, only the personal opinions and conspiracy theories on RW blogs.
  • F-18 IN... Foxy Wa... 2011/11/17 05:04:13
    F-18 IN GOD WE TRUST
    OK Foxy you keep dreaming and living in your fantasy.
  • Foxy Wa... F-18 IN... 2011/11/17 05:55:47
    Foxy Warrior Guru
    +6
    And you too.
  • Guru_T_... F-18 IN... 2011/11/17 06:52:08
    Guru_T_Firefly
    +6
    She lives in reality with the rest of the smart people. We have hopes that you'll join us one day.
  • luvguins Foxy Wa... 2011/11/17 03:28:58
    luvguins
    +8
    The coward sent me a rude private message, and then blocked me, Foxy. Think he is unglued or has a screw loose.
  • Foxy Wa... luvguins 2011/11/17 04:59:00
    Foxy Warrior Guru
    +7
    I've spent the last couple of months dealing with the likes of Defendonut. This one doesn't impress me very much.
  • luvguins Foxy Wa... 2011/11/17 05:04:27
    luvguins
    +8
    Yeah, that is another one ready for a straight jacket.
  • A Found... Foxy Wa... 2011/11/17 05:27:38
    A Founding Father
    +7
    Please answer F-18 for me as he posted more nonsense and blocked me too. Juveniles do that a lot, and I suspect he is twelve or thirteen years old, just judging from his rhetoric from the farside network. Pretty
    soon, if he blocks enough, we won't hear from him again as he will have no one to converse with.
  • luvguins A Found... 2011/11/17 07:18:17
    luvguins
    +7
    He sent me a rude private message and then blocked me tonight. Think he is psycho if he thinks Gingrich is going to nbe president.

See Votes by State

The map above displays the winning answer by region.

News & Politics

2014/11/01 12:40:29

Hot Questions on SodaHead
More Hot Questions

More Community More Originals