Newt Gingrich answers IN DEPTH questions about bus. relationship with Freddie Mac

[oreo]

The below video with Greta Van Sustren in a 17 minute interview--with Newt Gingrich. He answers his business relationship with Freddie Mac. WARNING to you liberals--at the end of this video--he goes after the Occupy whatever wall street protester--

[ame=http://www.youtube.com/watch?v=TZEeB4T_RWs&feature=player_embedded]Newt Answers In-depth Questions Concerning Freddie Mac - YouTube[/ame]

 

[del]

i watched the first five minutes.

i heard lots of evasion, some condescension and a bunch of bullshit, including the gem that he only gave "strategic advice" and didn't lobby.

quite the load of shit.

thanks for sharing

 

[oreo]

i watched the first five minutes.

i heard lots of evasion, some condescension and a bunch of bullshit, including the gem that he only gave "strategic advice" and didn't lobby.

quite the load of shit.

thanks for sharing

Do you also read less than 1/3 of a book and watch less than 1/3 of a movie to give your expert opinion?---

 

[Remodeling Maidiac]

I find it interesting that he was paid that large sum BUT everyone fails to mention it was paid over about a 7 year period. They met on average once a month over nearly a decade. And Del lobbying is when you sales pitch to congress. He never did that.

 

[Maple]

I find it interesting that he was paid that large sum BUT everyone fails to mention it was paid over about a 7 year period. They met on average once a month over nearly a decade. And Del lobbying is when you sales pitch to congress. He never did that.

I find it interesting too, why would Freddie pay anyone to do nothing and from Newt's accounts he didn't do anything. In the debate he stated that he advised them that they would collapse, yet in this video he deny's that statement. Coming up with a boy scout idea to teach boy scouts how to save money to buy a home is not worth 1.2 or 1.6 million, I would do it for nothing. Something smells here, we have not heard the end of this story.

Freddie Mac Paid Newt Gingrich More Than $1.6 Million - National - The Atlantic Wire




Former House Speaker and current president candidate Newt Gingrich was paid between $1.6 and $1.8 million for his consulting work with semi-public mortgage company Freddie Mac, reports Bloomberg. That's a bit higher than the previously reported figure of $300,000, which Gingrich was asked about during the CNBC Republican primary debate. "When asked at the debate what he did to earn a $300,000 payment in 2006, the former speaker said he 'offered them advice on precisely what they didn’t do,' and warned the company that its lending practices were 'insane,'" Bloomberg reports. "Former Freddie Mac executives who worked with Gingrich dispute that account." Talking Points Memo's David Kurtz goes somewhat farther than Bloomberg, writing, "Newt was not, as he claimed, warning them about the housing bubble or the dangers of their business model ... In fact, his role was, in part, to protect the mortgage giants from more regulation by the Republican-controlled House."

Something that Freddie Mac officials and Gingrich can agree on, however, is that Gingrich's work at Freddie Mac did not technically constitute lobbying, although some of the former Freddie Mac officials interviewed by Bloomberg said, "Gingrich 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." One of Gingrich's suggestions was cozying up to the Boy Scouts of America. "One idea that the former Georgia congressman proposed that Freddie Mac didn’t pursue was initiating a program with the Boy Scouts of America to teach youngsters the importance of saving money and maintaining good credit so they would qualify to buy a home later in life," according to Bloomberg.

Want to add to this story? Let us know in comments or send an email to the author at [email protected]. You can share ideas for stories on the Open Wire.

Topics: Freddie Mac, 2012 Election, Newt Gingrich, GOP 2012

 

[oreo]

I find it interesting that he was paid that large sum BUT everyone fails to mention it was paid over about a 7 year period. They met on average once a month over nearly a decade. And Del lobbying is when you sales pitch to congress. He never did that.

Considering that Franklin Raines the administrator of Fannie Mae raided it for 125 MILLION in bonus'es. Fees over a 7 year period for consulting services of 1.6 million are reasonable.

Franklin Raines, CEO of the Federal National Mortgage Association (Fannie Mae) from 1999-2004, is the individual most responsible for the subprime mortgage crisis. It was on Mr. Raines' watch that Fannie Mae went bankrupt.

He was accused of manipulating earnings statements so he could be paid bonuses to which he was not entitled.

In July, Mr. Raines was interviewed by Anita Huslin, a business reporter for the Washington Post.

"In the four years since he stepped down as Fannie Mae's chief executive under the shadow of a $6.3 billion accounting scandal, Franklin D. Raines has been quietly constructing a new life for himself," Ms. Huslin's story began. "He has shaved eight points off his golf handicap, taken a corner office in Steve Case's D.C. conglomeration of finance, entertainment and health care companies and, more recently, taken calls from Barack Obama's presidential campaign seeking his advice on mortgage and housing matters."

I believe Raines had to pay back 25 million of those bonuse's that he received.

RealClearPolitics - Articles - Raines, Obama and the Media

 

[Avorysuds]

I find it interesting that he was paid that large sum BUT everyone fails to mention it was paid over about a 7 year period. They met on average once a month over nearly a decade. And Del lobbying is when you sales pitch to congress. He never did that.

Wow so only 200k a year for 1 meeting a month? Gramps, you know how to pick the most honest of candidates I tell you. Imagine if you could get that kinda cash for the job of showing up to a Government backed agency for like 1 hour a month after you were a politician that helped them exsist…

Face it, that feeling of "awww fuck this guy sucks too" is starting to creep in... And to think all you had to do was give it a week or so and read up on his policies before you became a full fledged fanboi~

 

[Remodeling Maidiac]

I find it interesting that he was paid that large sum BUT everyone fails to mention it was paid over about a 7 year period. They met on average once a month over nearly a decade. And Del lobbying is when you sales pitch to congress. He never did that.

Wow so only 200k a year for 1 meeting a month? Gramps, you know how to pick the most honest of candidates I tell you. Imagine if you could get that kinda cash for the job of showing up to a Government backed agency for like 1 hour a month after you were a politician that helped them exsist…

Face it, that feeling of "awww fuck this guy sucks too" is starting to creep in... And to think all you had to do was give it a week or so and read up on his policies before you became a full fledged fanboi~

I have had jobs like that. I was a contractor for the govt for just over a decade. I was paid tons more than true market values for my services. That's just how our govt functions. It doesn't seem the least bit abnormal to me.

The best one I had was for a contract on Ft Leavenworth. It paid 140k and I only had to work 6 hours a day, 2 to 3 days a week. I even rented a house just off base even thought I only lived an hour away.

It's easy to critique when you don't have all the facts.

 

[NYcarbineer]

So the vaunted Tea Party rebellion with all its anti-establishment pretensions ends up falling in line behind the ultimate Washington insider,

Newt Gingrich.

I keep telling you this a sitcom.

 

[Avorysuds]

I find it interesting that he was paid that large sum BUT everyone fails to mention it was paid over about a 7 year period. They met on average once a month over nearly a decade. And Del lobbying is when you sales pitch to congress. He never did that.

Wow so only 200k a year for 1 meeting a month? Gramps, you know how to pick the most honest of candidates I tell you. Imagine if you could get that kinda cash for the job of showing up to a Government backed agency for like 1 hour a month after you were a politician that helped them exsist…

Face it, that feeling of "awww fuck this guy sucks too" is starting to creep in... And to think all you had to do was give it a week or so and read up on his policies before you became a full fledged fanboi~

I have had jobs like that. I was a contractor for the govt for just over a decade. I was paid tons more than true market values for my services. That's just how our govt functions. It doesn't seem the least bit abnormal to me.

The best one I had was for a contract on Ft Leavenworth. It paid 140k and I only had to work 6 hours a day, 2 to 3 days a week. I even rented a house just off base even thought I only lived an hour away.

It's easy to critique when you don't have all the facts.

Maybe the difference here is you don't see ripping off the tax payers as bad and I do... It's fine that you did what you did because while I don't approve of it you're not running for President and you we’re not a politician that worked with F&F before you “retired.” The big difference is Newt worked in Government, he worked with F&F, meaning he pretty much was paid off over 7 years... If you’re ok with that, fine, but be honest about it.


And for the record you never had a job like that... Showing up to BS about whatever and collect a paycheck? It's called curruption... Not an easy or lucky job account.

 

[oreo]

I find it interesting that he was paid that large sum BUT everyone fails to mention it was paid over about a 7 year period. They met on average once a month over nearly a decade. And Del lobbying is when you sales pitch to congress. He never did that.

Wow so only 200k a year for 1 meeting a month? Gramps, you know how to pick the most honest of candidates I tell you. Imagine if you could get that kinda cash for the job of showing up to a Government backed agency for like 1 hour a month after you were a politician that helped them exsist…

Face it, that feeling of "awww fuck this guy sucks too" is starting to creep in... And to think all you had to do was give it a week or so and read up on his policies before you became a full fledged fanboi~

The Gingrich group also consulted many large corporations such as Micro-soft--and I imagine the fees were about the same. Freddie Mac a huge conglomerate. Heck I went to a financial advisor years ago--with my pidly investments--met with him one time for 20 minutes and got a $400.00 bill for it.

No doubt that Freddie Mac picked the Gingrich group because he was the former speaker of the house--and knew the in's and out's of who to speak too at the federal government level--and gave advice about that. But--I am not going to hang him high--because he gave advice to them. He was working in the private sector--he certainly wasn't the auditor for Freddie Mac-nor was he in a voting position---he was just a private sector consultant to this company over a 7 year period.

 

[Avorysuds]

Newt is talking himself into a corner anyhow… Why was Newt being paid for advice when the housing market crashed? Did Newt give bad advice, meaning he admits he knows jack shit about what he was getting very overpaid for? Or will Newt argue he was being overpaid to advise against F&Fs actions for a long period of time for no fucking reason… meaning it all sounds like corruption.

Why pay someone so much money and not follow their advice?

 

[Avorysuds]

I find it interesting that he was paid that large sum BUT everyone fails to mention it was paid over about a 7 year period. They met on average once a month over nearly a decade. And Del lobbying is when you sales pitch to congress. He never did that.

Wow so only 200k a year for 1 meeting a month? Gramps, you know how to pick the most honest of candidates I tell you. Imagine if you could get that kinda cash for the job of showing up to a Government backed agency for like 1 hour a month after you were a politician that helped them exsist…

Face it, that feeling of "awww fuck this guy sucks too" is starting to creep in... And to think all you had to do was give it a week or so and read up on his policies before you became a full fledged fanboi~

The Gingrich group also consulted many large corporations such as Micro-soft--and I imagine the fees were about the same. Freddie Mac a huge conglomerate. Heck I went to a financial advisor years ago--with my pidly investments--met with him one time for 20 minutes and got a $400.00 bill for it.

No doubt that Freddie Mac picked the Gingrich group because he was the former speaker of the house--and knew the in's and out's of who to speak too at the federal government level--and gave advice about that. But--I am not going to hang him high--because he gave advice to them. He was working in the private sector--he certainly wasn't the auditor for Freddie Mac-nor was he in a voting position---he was just a private sector consultant to this company over a 7 year period.

If Obama did that you would call it what it is, bullshit. Newt was overpaid to literally not work... This is like Obama's solar panel company going under...

 

[Remodeling Maidiac]

Wow so only 200k a year for 1 meeting a month? Gramps, you know how to pick the most honest of candidates I tell you. Imagine if you could get that kinda cash for the job of showing up to a Government backed agency for like 1 hour a month after you were a politician that helped them exsist…

Face it, that feeling of "awww fuck this guy sucks too" is starting to creep in... And to think all you had to do was give it a week or so and read up on his policies before you became a full fledged fanboi~

I have had jobs like that. I was a contractor for the govt for just over a decade. I was paid tons more than true market values for my services. That's just how our govt functions. It doesn't seem the least bit abnormal to me.

The best one I had was for a contract on Ft Leavenworth. It paid 140k and I only had to work 6 hours a day, 2 to 3 days a week. I even rented a house just off base even thought I only lived an hour away.

It's easy to critique when you don't have all the facts.

Maybe the difference here is you don't see ripping off the tax payers as bad and I do... It's fine that you did what you did because while I don't approve of it you're not running for President and you we’re not a politician that worked with F&F before you “retired.” The big difference is Newt worked in Government, he worked with F&F, meaning he pretty much was paid off over 7 years... If you’re ok with that, fine, but be honest about it.


And for the record you never had a job like that... Showing up to BS about whatever and collect a paycheck? It's called curruption... Not an easy or lucky job account.

I didn't take advantage of anything. Govt contracts are set based on a particular wage or scale. Then you (the contractor) are required to pay a prevailing wage (davis bacon act)

It's the law. Like I said you know not what your talking about.

The govt ALWAYS pays more than any normal entity. Why do you think our taxes are so fucking high. Gotta grease every palm along the path.

And for you to insinuate that I did anything immoral is obsurd.

 

[Remodeling Maidiac]

Newt is talking himself into a corner anyhow… Why was Newt being paid for advice when the housing market crashed? Did Newt give bad advice, meaning he admits he knows jack shit about what he was getting very overpaid for? Or will Newt argue he was being overpaid to advise against F&Fs actions for a long period of time for no fucking reason… meaning it all sounds like corruption.

Why pay someone so much money and not follow their advice?

Newts contract with Freddie expired a year before the bubble burst.

 

[Remodeling Maidiac]

Wow so only 200k a year for 1 meeting a month? Gramps, you know how to pick the most honest of candidates I tell you. Imagine if you could get that kinda cash for the job of showing up to a Government backed agency for like 1 hour a month after you were a politician that helped them exsist…

Face it, that feeling of "awww fuck this guy sucks too" is starting to creep in... And to think all you had to do was give it a week or so and read up on his policies before you became a full fledged fanboi~

The Gingrich group also consulted many large corporations such as Micro-soft--and I imagine the fees were about the same. Freddie Mac a huge conglomerate. Heck I went to a financial advisor years ago--with my pidly investments--met with him one time for 20 minutes and got a $400.00 bill for it.

No doubt that Freddie Mac picked the Gingrich group because he was the former speaker of the house--and knew the in's and out's of who to speak too at the federal government level--and gave advice about that. But--I am not going to hang him high--because he gave advice to them. He was working in the private sector--he certainly wasn't the auditor for Freddie Mac-nor was he in a voting position---he was just a private sector consultant to this company over a 7 year period.

If Obama did that you would call it what it is, bullshit. Newt was overpaid to literally not work... This is like Obama's solar panel company going under...

You have no idea what information or services were exchanged. Both are bound by confidentiality agreements so none of us know.

In essence you have no clue if it was worth the money. Your stuck in your average life with no knowledge of what billion dollar companies pay for services so all you can do is guess with your limited understanding of complex issues.

He may have offered valuable advice and services and maybe he didn't but only the two involved know the value.

 

[Avorysuds]

Newt is talking himself into a corner anyhow… Why was Newt being paid for advice when the housing market crashed? Did Newt give bad advice, meaning he admits he knows jack shit about what he was getting very overpaid for? Or will Newt argue he was being overpaid to advise against F&Fs actions for a long period of time for no fucking reason… meaning it all sounds like corruption.

Why pay someone so much money and not follow their advice?

Newts contract with Freddie expired a year before the bubble burst.

How does that change what I said? Newt either gave bad advice and assumes part of the respectability of the collapse for his bad advice or he admits they paid him to advise against what they were doing for years.... making the corruption point sounds dramatically realistic as who would pay that much money and never follow the advice?

And I didn't say what you did was immoral, I said you didn't hold public office that would ensure you bogus contracts after you leave office as Newt clearly did.

 

[Avorysuds]

The Gingrich group also consulted many large corporations such as Micro-soft--and I imagine the fees were about the same. Freddie Mac a huge conglomerate. Heck I went to a financial advisor years ago--with my pidly investments--met with him one time for 20 minutes and got a $400.00 bill for it.

No doubt that Freddie Mac picked the Gingrich group because he was the former speaker of the house--and knew the in's and out's of who to speak too at the federal government level--and gave advice about that. But--I am not going to hang him high--because he gave advice to them. He was working in the private sector--he certainly wasn't the auditor for Freddie Mac-nor was he in a voting position---he was just a private sector consultant to this company over a 7 year period.

If Obama did that you would call it what it is, bullshit. Newt was overpaid to literally not work... This is like Obama's solar panel company going under...

You have no idea what information or services were exchanged. Both are bound by confidentiality agreements so none of us know.

In essence you have no clue if it was worth the money. Your stuck in your average life with no knowledge of what billion dollar companies pay for services so all you can do is guess with your limited understanding of complex issues.

He may have offered valuable advice and services and maybe he didn't but only the two involved know the value.

“Complex” is another word for corrupt in the political world. Not much of anything in this world is “complex” unless corruption is involved. Gramps it’s your choice to back another low life POS, this is the internet, your credibility means almost nothing so it’s easy to blow it.

 

[Remodeling Maidiac]

Newt is talking himself into a corner anyhow… Why was Newt being paid for advice when the housing market crashed? Did Newt give bad advice, meaning he admits he knows jack shit about what he was getting very overpaid for? Or will Newt argue he was being overpaid to advise against F&Fs actions for a long period of time for no fucking reason… meaning it all sounds like corruption.

Why pay someone so much money and not follow their advice?

Newts contract with Freddie expired a year before the bubble burst.

How does that change what I said? Newt either gave bad advice and assumes part of the respectability of the collapse for his bad advice or he admits they paid him to advise against what they were doing for years.... making the corruption point sounds dramatically realistic as who would pay that much money and never follow the advice?

And I didn't say what you did was immoral, I said you didn't hold public office that would ensure you bogus contracts after you leave office as Newt clearly did.

Your operating under the assumption that their dealings were related to financing. Which may or may not be the case. They may have discussed public image just as likely. Companies pay out the ass for that kind of advice. Maybe they discussed what they could do to earn favor with congress. Who the hell knows? We do however know that what he offered was completely legal so this discussion really is moot.

 

[oreo]

If Obama did that you would call it what it is, bullshit. Newt was overpaid to literally not work... This is like Obama's solar panel company going under...

You have no idea what information or services were exchanged. Both are bound by confidentiality agreements so none of us know.

In essence you have no clue if it was worth the money. Your stuck in your average life with no knowledge of what billion dollar companies pay for services so all you can do is guess with your limited understanding of complex issues.

He may have offered valuable advice and services and maybe he didn't but only the two involved know the value.

“Complex” is another word for corrupt in the political world. Not much of anything in this world is “complex” unless corruption is involved. Gramps it’s your choice to back another low life POS, this is the internet, your credibility means almost nothing so it’s easy to blow it.

Oh bullshit. There are zillions of private sector consultants working in this country today. They consult individuals--small business'es--banking officials--large corporations, small and large government entities about infrastructure--engineering--finance--investments--and housing developments-computer networks--internet sources--cable and broadband-security etc. etc. etc. That's how they make their money. And because their contracts are complex--and private-(non disclosure clauses) does not in any way make them corrupt.