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Newt and Freddie Mac

Written on Sunday, November 20, 2011 by

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newt gingrich

Now that Newt Gingrich’s candidacy is rising to the top, expect the brickbats to be aimed at his head. The first to fly is the charge that he was paid off by Freddie Mac to do its bidding while the company, in concert with Fannie Mae, flooded the world with funny money mortgages and brought on the global collapse of 2008.

According to Bloomberg News, Newt got between $1.6 and $1.8 million in consulting fees from Freddie Mac over eight years — about $17,000 per month — a not-unusual fee these days.

Newt’s consulting agreement specified that he would not lobby, and the bylaws of his consulting firm bar lobbying by any of its employees. So if he didn’t lobby, what did he do to earn the money?

Bear in mind that Fannie and Freddie were paying off everybody they could find. Jim Johnson, Walter Mondale’s manager; Jamie Gorelick, Clinton’s deputy attorney general; Rahm Emanuel; and dozens of others made a mint in consulting fees. Newt was not unique.

Doubtless Freddie hired him to show that it was not an arm of the Democratic party and to buy some credibility on the right. Newt’s contract started after he left office, and no evidence exists to prove that he brought any concrete influence to bear on Freddie’s behalf.

But this scrutiny gives Newt an incredible opportunity. He can produce memos and emails that show that he warned Freddie about its mortgage policies. In one of the presidential debates, Newt said that he warned Freddie that it was creating a bubble that would burst and have enormous implications when it did.

If Newt can show that he sounded the alarm and had the wisdom and foresight to raise hell about the mortgages, he can put himself in rarified company. To be exact, he’d be in a class of his own. Nobody else had that kind of prescience.

This scandal can either hurt or help. If Newt used his contacts at Freddie to sound an alarm and change the Titanic’s course before it hit the iceberg, it would be a good credential for his candidacy.

To find out more about Dick Morris and read features by other Creators Syndicate writers and cartoonists, visit the Creators Syndicate web page at www.creators.com.
COPYRIGHT 2011 DICK MORRIS AND EILEEN MCGANN
DISTRIBUTED BY CREATORS.COM

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  • Frank La May

    i am all for you and will vote for you in november. keep up the good job. the rest do not touch you. good luck. i hope your are next president.”

    frank la may
    oh i am 74 and do not have spare money. so please don’t ask for money.

    • SHAWN T. CARSON

      Sure Frank…vote for NEWT! Afterall he’s so qualified: he’s a multi-millionaire for one; two he’s a member of the CFR…just like Obama and 3 he’s a Bilderberger like Soros, the Rockefellers and the Rothschilds. Why don’t you do yourself a favor and watch this video? Perhaps then you will understand. Got 55 mins. to spare?
      Want the truth about why America is in such dire straits?
      http://beforeitsnews.com/story/1400/802/The_Enemy_Within_-_A_Global_Conspiracy.html

      Watch the 55 min video The Enemy Within: best 55 min. you will ever spend. You will learn why its not about DEMS vs REPS…it’s much simpler and far more evil than that.

    • Dancer2

      Very good comment! Yep, ole Newt was raking the money in while he knew the housing buble was about to go bust! He also supported Obamacare and the video w/Pelosi. Give us people a break; he is slime of the worst kind; says what will get him where he wants to go; he’s as criminal as Obama and if you vote for him we will not be any better off than with Obama and possibly worse off. RESEARCH!!! RON PAUL 2012 THE ONLY TRUE CONSERVATIVE CANDIDATE RUNNING

  • TC Nichols

    Why does this website, that is supposed to be for Liberty and freedom advocate this CFR Globalist nominee, that has been thrown in the dog fight to establish another globalist pawn, for the future to be put in the White House, to take the Corporate Borg oligarch agenda where Obama left off?

    Look at this jerks track record! Google and Search Engine the facts!

    If this manipulator was a drug prescription to remedy an ailment – he’d have the same properties as arsenic when swallowed!

    • Susan

      A good comment… I’ve done my research on Newton, and as my dad would say, “He won’t do.”

    • Dancer2

      LOVE YOUR COMMENT! SOME SHEEPLE ARE LETTING THE DEBATES; SMOOTH TALKING NEWT JUST LIKE OBAMA, THE MEDIA, T.V. TELL THEM WHO TO VOTE FOR INSTEAD OF RESEARCHING. THIS TIGER HASN’T CHANGED HIS STRIPES.

  • http://brucefeher.typepad.com Bruce Feher

    Washington is a cesspool! That being said, Newt may have a shot….

  • judy

    do not listen media propaganda. cain/newt 2012

    • dfrank

      Judy, I would suppose you like Newt because of his experience and knowledge of how Washington works (nothing else comes readily to mind.) If that is the case, though, why do you want him to be Cain’s VP instead of the other way around? Seems illogical.

  • Patrick Hayes

    A deaf, dumb,blind and uneducated moron could have predicted this government/bank caused mortgage collapse. When billions in bad loans are made in direct violation of federal criminal codes and then securitized with the blessing of the SEC you get the destruction of an enonomy. Gingrich should have screamed at the top of his lungs.

    • GDC

      YOU wrote “When billions in bad loans are made in direct violation of federal criminal codes”

      What criminal codes were they?

      It was the goverment that was forceing those loans along with Obama and ACORN.

    • maryanne greenberg

      Are you kidding me, the government dictates to its banks their policies. They are the most regulated entity in this country. First y ou have to take a look at congress and the senate, and of course, our pres. signs anything that benefits the dems and kills the country. Get on board this ship for them has sailed, we are all onto their game.

    • dfrank

      With a modicum of integrity, which I believe is the case with Gingrich, most people would have made some noise about that pending crisis. Other people were sending out warning signs: Why not Gingrich?

      The only reason I can think of that would justify his not “shouting it from the roof tops” is that he simply did not know. To have known and said nothing publicly would bring his devotion to the country into question. So I’m not going there: I just believe he didn’t know what was going on. Of course, that is not much to run a campaign on. As is reported in the accompanying article, it could wind up being good for him; but, right now, I think it is more likely to be a problem.

      Seems I read somewhere that he earned something in the neighborhood of three hundred thousand dollars. That is a lot different from what is now being reported. That could be a problem, too. Not so much for getting the amount wrong; but — why? Money? Hope not.

  • Patrick Hayes

    I filled all the required fields.

  • William Maylor

    I have been with Newt from the beginning!! His “so called baggage” is Real Political life experience! This man has the knowledgable will to reinforce our constitution as it was intended. We all need to stand as one, behind Newt!! We need to help Newt by keeping the House, Reclaiming the Senate and sending NEWT to the Whitehouse!!!!!

    • dfrank

      Sounds like a good strategy, William; but would you be prepared to stand together with the rest of us behind a different candidate?

  • cleareyes

    New’t or Cain better getting their address changed.
    I understand president and the Vice can’t come out of the same state.

    • R. Cook

      I both Pres nd V.Pres candadates are from the same state ;the electoral votes from that state cannot be cast for both. The votes would go to the pres candate and then hope the V.P. got enough other electoral votes from other states to make up for the ones lost in his home state.

    • http://verizon Ann Rand

      Newt lives in McClean, Va.

  • Bill

    Anyone of the candidates would be better than Communist Muslim loving Obama.

  • oldgringo

    My understanding is that this money was not used for his own person but for his company entitlted Newt Co…..It had 30 employees and this money was spent on salaries and exspenditures…..What his company did I’m really not sure other than what he was doing himself…..I hear that he is not the only one involved in such doings…..Where as Nancy Pelosi and her husband benefitted financially and or personally with their Visa Insider Trading deal….I agree our Congress is so Corrupt that I doubt Fiscal Sanity could ever be restored to the WH!

    • http://verizon Ann Rand

      Gringo…. Pelosi and her husband have many holdings. Among them is a tuna processing plant in American Samoa. (Starkist I believe). She used her influence to keep the natives there from getting minimum wage. You can find this on Google. She is a total hypocrite,among other things.

  • am2sweet

    I have said previously that Gingrich has been in politics too long and knows how to play the games to get elected and then do what he wants same as the rest of the politicians. Has anyone noticed that nearly every president we’ve ever had were either lifelong politicians or lawyers. Few were anything else it seems. Maybe a business man would do better or heck maybe even a farmer who knows how it is to actually work for a living.

  • C. Pierce

    Read “Conspiracy of the Six-Pointed Star” BEFORE the next election.

    • vietnamvet

      Are you a backer of Ron Paul, C. Pierce?
      I only ask because there seems to be so much anti-Semitism among them.

    • sue

      Where did you get an idea like that??? Ron Paul’s only interest in other countries is trade and perhaps visiting back and forth. Don’t you remember his bad reputation as an, “Isolationist.”

    • Dancer2

      RON PAUL IS NOT AN ISOLATIONIST!!!! GET YOUR FACTS STRAIGHT – HE IS A NON-INTERVENTIONALIST – BIG DIFFERENCE. HE DOESN’T WANT TO RUN EVERY COUNTRY AND WANTS TO STOP THE WARS. HE WANTS OTHER COUNTRIES TO BE ABLE TO RUN THEIR BUSINESS & US RUN OURS AND BE ABLE TO HAVE TRADE WITH THEM. HE BELIEVES IN A STRONG DEFENSE AND WOULD SEE OUR COUNTRY IS DEFENDED IF NECESSARY. WE NEED TO STOP ALL THESE CRAZY WARS; HE WAS IN THE MILITARY ALSO AND HAS MORE SUPPORT FROM ACTIVE DUTY MILITARY THAN OBAMA AND ALL THE REST OF THE CANDIDATES PUT TOGETHER; EVER WONDER WHY THAT IS???

    • sue

      Another thing, Vietnamvet, I’m at a loss trying to understand why a vet. would dog Ron Paul. He’s been the only steadfast friend to the veteran. Over and over he has done battle with Congress to insure that vets received medical treatment, monitary compensation of a variety of types of lost income.
      His fight for the vet is the reason that he recieved more donations to his campaign than did the rest of the contenders–combined. He also recieved more than did Obama, the Commander in Chief.

      You really should google, “Ron Paul dedication to veterans.”

  • tod

    Dr.Ron Paul 2012 for the ONLY Proven Honest(for Well Over 30 Years),Intelligent,God Fearing,Patriot running for President,PERIOD !!!

    • blackhawk

      tHE ONLY PROBLEM IS THAT HE’S A WACKBIRD

    • sue

      Blackhawk, you can’t have it both ways: live with the status quo, or vote for prosperity. Ron Paul has a platform that lays out the steps to a thriving economy, and it is beginning to look as if he’s the only one who doesn’t have personal indiscretions dogging his heels.
      Ron Paul’s plan:
      The first thing that needs to be done is for the president to issue a Presidential Order and start bringing all our troops home to their families. That would bring a lot of money back here to boost the economy!

      2nd) phase out the FED. This would release trillions of dollars effectively ending our debt issues!

      3rd) End the Fed. By releasing the trillions of dollars into our economy. it would give an incredible boost to the dollar’s value, which would create a more stable stock market, which would give employers confidence to hire, which would create jobs!

      Americans could actually invest and save without as much uncertainty and fear. These 3 things could accomplish a lot in 10 short months. Our economy would do a complete turn around by the end of next spring!!
      I’m sure most people remember the math and economics that was taught to everyone that ever graduated high school.
      __
      Liberty is something that is virtually gone in America! I’m tired of being over taxed, being regulated by the Lame Stream Media and being told that nothing can be done about the horrible state America is in.

      This information was taken from Doug Wead’s Blog
      _____
      Incidentally, blackhawk, how many other candidates actually have a platform. Most have one, maybe two, talking points, and the rest is hoo-rah.

    • Are you Serious

      Yawn zzzzzzzzzzzzzzzzzzzzzz

    • Kate

      Sue, your idea that releasing trillions of dollars will strengthen the dollar and stabilize the markets is complete madness. It would weaken the dollar and cause massive inflation, Our present inflation is caused by the Fed printing so many dollars. Surely you know the laws of supply and demand. You would just have more dollars chasing the same product, or most likely, the same bite of food.

    • Dancer2

      Your comment is right on; seems like many people are still sheeple with their heads buried in the sand and we will end of with the status quo instead of a God fearing, America loving President – RON PAUL 2012

  • Earle Belle
  • Patricia

    I don’t care 3 flips in H*** about Newt’s baggage. He can beat Obama and he is the only one with the immediate knowledge and creativity to clean up and reverse the mess Obama has made of this government. We desperately need term limits to get rid of old timers carrying grudges and Progressives with their Socialist agendas. Both parties have been corrupted. Fie on all of them. Vote all of the oldies out, everyone that has been there over 2 terms must go.

    • sue

      Patricia, if you check a few statistical sites, you will find that Ron Paul tops the list of being able to win out over Obama. Just the fact that he has the military vote could pretty well guarantee a win over Obama.

    • http://verizon Ann Rand

      Sue,,,, Believe it if it makes you feel better.

    • Dancer2

      NO REASON TO RESPOND TO ANN; SHE JUST SPITS GOOFY MESSAGES AND NOTHING THAT AMOUNTS TO ANYTHING BUT YOU ARE RIGHT ABOUT THE MILITARY. MORE ACTIVE MILITARY SUPPORT RON PAUL THAN OBAMA AND MORE THAN ALL THE REST PUT TOGETHER. I FOR ONE AM PAYING NO ATTENTION TO ANY OF ANN’S REMARKS; SHE OBVIOUSLY JUST TRIES TO STIR UP STUFF & DOESN’T CARE IF ANOTHER RINO GETS IN OFFICE.

    • Dancer2

      YOU BETTER START CARING ABOUT NEWT’S BAGGAGE; WITH ALL HE’S DONE & BEEN INVOLVED IN HE MAY END UP WORSE THAN OBAMA! RESEARCH AND IF YOU THINK NEWT HAS CHANGED YOU BEST THINK AGAIN. REMEMBER OBAMA’S SMOOTH TALK; THAT’S NEWT RIGHT NOW; HE’S EVEN KEEPING HIS HAIR TRIGGER TEMPER IN LINE – FOR AWHILE!

      RON PAUL 2012 IF YOU REALLY WANT THE RIGHT KIND OF CHANGE

  • Jerry M

    The headline I’d like to see “Obama and Larry Sinclair” to show the American people just a little piece of Obama’s dirt.

    • Kate

      Why isn’t it even mentioned in the media? (I mean cable channels like Fox). If it weren’t for sites like this one, I wouldn’t have even heard about Sinckair.

    • Kate

      Sorry I meant Sinclair.

  • http://YAHOO RICHARD

    NEWT IS THE BEST CHOICE, HE HAS THE EXPERIENCE, WE NEED AND CAN CONTROL SOME OF THE DEAD-BEATS NOW IN OFFICE

    • sue

      RRichard, ontroling the dead beats in Washington is supposed to be the voters’ job. We are supposed to control them right out of office. And speaking of voting, what’s wrong with voting for a president who carries with him none of the “He’s not the only one who, cheats, lies, steals……”
      That’s really not a powerful recomendation.

  • http://adrianvance.blogspot.com Adrian Vance

    The only thing they would pay that kind of money for is influence in the right places. That he does not call it lobbying does not mean it was not corrupt. However, even worse was the $27 million he got from health care people! What about that?

    See The Two Minute Conservative at http://adrianvance.blogspot.com for political analysis, science and humor. Now in the top 3% on Kindle.

  • boneyfingers41

    It amazes me how Newt seems to have acquired all the knowledge of our government and it’s inner workings, and now has been infused with that wisdom, which comes with age and experience, and compassion to pursue the presidency and bring us back to compliance with the Constitution of the United States. I pray he will keep in touch with the Creator, Who endowed us with those rights including life, liberty, and the pursuit of happiness.