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You've got to admire Gingrich's chutzpah. After taking nearly $2 million pimping Freddie Mac, we now find that he was once a paid adviser to the private equity buyout firm, Forstmann Little. Forstmann Little is the same type of firm as Bain Capital, the firm which is the subject of a 28 minute film produced by the Gingrich camp which blasts Mitt Romney.
Attacks on Romney Divide GOP - WSJ.com
Some members of the buyout industry said that for all his criticisms of Bain, Mr. Gingrich once benefited from the business as an adviser to Forstmann Little & Co. That firm led lucrative takeovers of Dr Pepper Co., Gulfstream Aerospace Corp., Topps Co. and others, deals that helped make its recently deceased founder, Theodore Forstmann, a billionaire. ...
As an adviser to the firm, Mr. Gingrich attended meetings two or three times a year, though he didn't spend much time working on the firm's deals, according to a person close to the matter.
"The private-equity bashing by Newt is most ironic," says Scott Higbee, a partner at Partners Group, a Boston-based firm that invests about $25 billion in private-equity firms including Bain and Carlyle. "It seems like a case of a cornered animal grasping to maintain relevancy."
Attacks on Romney Divide GOP - WSJ.com