Republican presidential candidate Newt Gingrich said during a Nov. 9 debate that he earned a $300,000 fee to advise Freddie Mac as a “historian” who warned that the mortgage company’s business model was “insane.”
Former Freddie Mac officials familiar with the consulting work Gingrich was hired to perform for the company in 2006 tell a different story. They say the former House speaker was asked to build bridges to Capitol Hill Republicans and develop an argument on behalf of the company’s public-private structure that would resonate with conservatives seeking to dismantle it.
If Gingrich concluded that the company’s business model was at risk and that the housing market was a “bubble,” as he said during the debate, he didn’t share those concerns with Richard Syron, Freddie Mac’s chief executive officer at the time, a person familiar with the company’s internal discussions said.
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Gingrich is a puppet who put his foot in his mouth.
ReplyDeleteno politicians, whether in office, or running for an office, should be able to take money from any of the lobbying groups and such, that would include donations. the only way to get honest folks in these political slots would be to regulate where donations come from. and yes, i use the word honest very loosely. there are no truly honest politicians in any of the parties.
ReplyDelete