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|Newt's Freddie/Fannie Payday: The Truth|
|News Releases - Politics & Elections|
|Written by Ron Paul 2012 PCC|
|Monday, 14 November 2011 14:29|
“Did Newt actually think Freddie Mac’s business was sound, or was he just earning his $300,000?”
“Internal Freddie Mac budget records show $11.7 million was paid to 52 outside lobbyists and consultants in 2006. Power brokers such as former House Speaker Newt Gingrich were recruited with six-figure contracts.
“The Bush administration and Federal Reserve Chairman Alan Greenspan were sounding the alarm about the potential threat to the nation's financial health if the fortunes of the two mammoth companies turned sour.
“Pushing back, Freddie Mac enlisted prominent conservatives, including Gingrich and former Justice Department official Viet Dinh, paying each $300,000 in 2006, according to internal records.
“Gingrich talked and wrote about what he saw as the benefits of the Freddie Mac business model.”###
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