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November 17, 2011

Gingrich Defends Lucrative Freddie Mac Work 
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Republican presidential hopeful Newt Gingrich has refused to confirm how
much he was paid while working as consultant to the mortgage giant
Freddie Mac. It was revealed this week Gingrich received up to $1.8
million dollars in consulting fees from Freddie Mac over an eight-year
span beginning in 1999. Freddie Mac played a key role in the nation's
financial meltdown and was taken over by the federal government in 2008.
The disclosure has drawn scrutiny in part because of Gingrich's previous
criticism of other politicians who've taken money from Freddie Mac. In
2008, Gingrich called on President Obama to return all donations from
the company, and just last month, he called for the jailing of
Congressmember Barney Frank — citing his ties to Freddie Mac.
Gingrich made the comment in a televised debate.

Newt Gingrich: "The fix was put in by the federal government. "If you
want to put people in jail, I want to second what (Minnesota Rep.)
Michele (Bachmann) said. You ought to start with (Massachusetts Rep.)
Barney Frank and (former Connecticut Sen.) Chris Dodd. And let's look at
the politicians who created the environment, the politicians who
profited from the environment and the politicians who put this country
in trouble."

Charlie Rose, moderator: "Clearly, you're not saying they should go to
jail?"

Gingrich: "Well, in Chris Dodd's case, go back to look at the
Countryside deals. In Barney Frank's case, go back and look at the
lobbyists he was close to at Freddie Mac."

On Wednesday, Gingrich tried to cite his work for a Freddie Mac as a
boost for his White House bid, saying: "It reminds people that I know a
great deal about Washington."



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