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Gingrich Freddie Mac connection
The Examiner ^ | 111111 | Kevin Kervick

Posted on 11/11/2011 11:09:48 PM PST by Fred

Now that Rick Perry and Herman Cain are seeing their stars fade, at least among the pundit class that shapes the popular news, some political observers are speculating that Newt Gingrich could be the next conservative hope for President.

In the CNBC Republican Debate on Wednesday evening in MIchigan, Wall Street Journal Editorial writer John Harwood asked Newt Gingrich about his former consultant relationship with the mortgage facilitator Freddie Mac.

Conservatives and Libertarians blame the Federal Government for the housing crisis that hit in 2007 and continues today. They believe the Federal Government created the housing bubble by mandating that Fannie Mae and Freddie Mack give federally insured mortgages to people that did not have the financial means to afford them. Taxpayer support of risky mortgages thus flooded the market with cash and over-inflated the value of homes throughout the country, which lead to more borrowing against the fantasy equity and increased exposure. Some of those mortgages were “bundled” and sold to other banks that initiated all sorts of other speculative practices that fueled the bubble further and ultimately created the crash when the credit scheme unraveled. When the housing bubble burst, the Bush Administration bailed out the commercial banks with more taxpayer money and later did the same with Fannie Mae and Freddie Mac instead of allowing those entities to fail.

(Excerpt) Read more at ...

TOPICS: Politics/Elections
KEYWORDS: cain; cronycapitalist; fannie; foreclosures; freddie; gingrich; lobbyists; newt; pork

1 posted on 11/11/2011 11:09:54 PM PST by Fred
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To: Fred

Here is the correct link sorry

2 posted on 11/11/2011 11:11:44 PM PST by Fred (no job no house no gas no food no problem Obama 2012)
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To: Fred

Please...Cain is not fading.

3 posted on 11/11/2011 11:17:47 PM PST by FightforFreedomCA (On the Cain Train to railroad Mitt.)
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To: FightforFreedomCA
Yes he is, the Perrybots say so...
4 posted on 11/11/2011 11:28:00 PM PST by ejonesie22 (8/30/10, the day Truth won.)
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To: All

"We are the resistance!!"



5 posted on 11/11/2011 11:42:38 PM PST by onyx (PLEASE SUPPORT FREE REPUBLIC BY DONATING NOW! Sarah's New Ping List - tell me if you want on it.)
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To: FightforFreedomCA

Actually, there is evidence that Cain is. Some polls. There is some evidence that Cain isn’t. Money is coming in.

No Republicans who want to win should vote for Perry.

It’s possible that Perry could debate like that again. Even with a terrible economy, the Republican candidate can’t do that and win.

No one has been able to identify a worse debate performance yet.

If it existed, it probably would be on youtube.

6 posted on 11/11/2011 11:56:10 PM PST by truthfreedom
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To: Fred

Freddie Mac paid Newt Gingrich for “advice” in 2006.
Gingrich told Freddie Mac that their business model was unsustainable one year before the housing crash.

7 posted on 11/12/2011 12:11:21 AM PST by Java4Jay (The evils of government are directly proportional to the tolerance of the people.)
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To: FightforFreedomCA

Some polls show Cain is fading among women. A CBS poll on Friday showed he’s lost 13 points among Republican female voters.

Yeah he’s raking in money. But didn’t Ron Paul once rake in like a million in a day? Fundraising doesn’t always equal winning.

And Gingrich has been climbing due to several excellent debate performances. He does appear to be the smartest person in the room. He’s starting to pull in some undecided voters and is now tied with Romney for 2nd place. Cain’s momentum has been halted. He’s not losing much, but he’s not climbing anymore.

8 posted on 11/12/2011 12:17:38 AM PST by floridarunner01
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To: Fred
...has reformers wondering if Gingrich may have ties to Washington Insiders that would interfere with his ability to reform Washington as President

(emphasis supplied)

We read no further to know this is a hit-piece.

This is unfortunate because the article has been good journalism up to this point. It accurately recites our conservative complaints about Fannie Mae and Freddie Mac leading to the great recession. If these complaints had been properly aired as we tried to do here on Free Republic, perhaps a few of useful idiots would not have been manipulated into occupying Wall Street; the Tea Party would be held in higher esteem by the public and that would be reflected in the polls; the public at large would see the problem not as a failure of capitalism but as a failure of big government.

So the question legitimately is raised, what was Newt Gingrich's role and what did he do for the $300,000 he allegedly received from Fannie Mae or Freddie Mac? Gingrich says he gave them advice and told to change their business model. The allegation, or more properly the rumor, says according to this piece:

However, according to the Associated Press, Gingrich talked and wrote about what he believed were the benefits of the Fannie and Freddie business model.

Well, if Gingrich wrote or talked about the "benefits" of the Fannie-Freddie business model why haven't these talks or writings been produced? Gingrich has flatly stated before millions of people, as this piece accurately reports, that he told Fannie and Freddie that their business model was, "unsustainable." He states they did not take his advice.

Instead of challenging this and saying that Gingrich is not telling the truth this hit-piece resorts to the discredited technique of citing the misgivings of anonymous critics, "has reformers wondering." What reformers?

The piece is further dishonest. Gingrich says that he told Fannie-Freddie that the business model was "unsustainable." Yet the article asks us to distinguish Gingrich's position from Ron Paul's, who wants to abolish these institutions. The article is written as though Paul has articulated the intelligent position but Gingrich is somehow off the reservation. That is dishonest because there is very little difference between a desire to abolish and an observation that a business model is "unsustainable."

This hit-piece continues, resorting once again to the disreputable practice of citing anonymous commentators:

It is also fueling speculation that has been circulating in conservative circles that Gingrich may have more fondness for big government solutions than he claims.


Shall we try for strike three?

Most importantly, it has Conservatives wondering if Gingrich’s financial interests would trump his conservative ideology in other matters of critical importance to the United States.

I long ago called for Gingrich to explain his relationship. He has done so. I've also called upon his detractors to produce evidence about what he did in that relationship. So far absolutely nothing but innuendo and hit pieces appear. If Gingrich has lied before millions of people, let the smear machine come forth with some evidence.

Until then, the matter should be closed.

9 posted on 11/12/2011 12:29:30 AM PST by nathanbedford ("Attack, repeat, attack!" Bull Halsey)
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To: Fred

Why does everyone keep saying Cain is fading, done, etc.? ONLY if we allow it. I’m sick to death of this predictable pattern of letting the press do this to us. Anyone who doesn’t think Newt will be next and we’ll end up with Romney by default if we fall for this again then we deserve what happens. This happens every single election and I refuse to play along anymore. From what I’ve seen most other people are, too. It’s the same predictable pattern: Press makes up story full of innuendo (usually involving sex or something else they think conservatives are going to get hysterical over)...the establishment Republicans & talking heads push the story...there begins a trickle of push polls (see Marist) that support talking heads...pundits pen story after story after story declaring candidate dead. And just like good little sheep we just go along, never stopping to think that we’re reacting exactly as they want, exactly as they expect. Because it’s what we always do. I refuse to be a party to that this time. And if the majority of us do then we deserve the destruction that’s coming. I guess what it all boils down to, is how much do we want to save our country? If we aren’t going to fight, if we’re going to roll over like we usually do lets all just give up now, declare Romney the winner and kiss the country goodbye.


10 posted on 11/12/2011 12:51:14 AM PST by gardencatz (I'm lucky enough to live, walk & breathe among heroes! I am the mother of a US Marine!)
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To: truthfreedom

A temporary dip that will right itself. $9 million in the las week? He is not tanking,,he is building steam. Watch and see. Polls are static tests. just because the left want to tank doesn’t mean it will happen.

11 posted on 11/12/2011 1:12:13 AM PST by richardtavor (Pray for the peace of Jerusalem)
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To: richardtavor

Oh, I said there’s evidence both ways.

Cains position has certainly changed.

I would guess that

1) Cain has lost some people. Women? Those who are PC
2) Cain has gained some people. Men? Those who hate PC
3) Those who are worry about the power of the media are moving away from Cain.
4) Those who dislike the power of the media are strengthening their support.

Those things are taking place simulaneously.

I also think that Cain knows he’s not going to win, he always knew he was going to win, and the plan all along was for him to shift his support to Gingrich.

They’re friends, fellow Georgians, Cain is to Fred Thompson as Gingrich is to McCain.

12 posted on 11/12/2011 1:35:55 AM PST by truthfreedom
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To: gardencatz

If Cain is fading, it isn’t because of the accusations or the media, it’s because:

1- He won’t get rid of that hideous Mark Block (”Puffer”)
2- He has handled the accusations poorly
3- He is cracking jokes about Anita Hill
4- He is inexperienced
5- 999

I’ll vote for him in a heartbeat over what we have in the white house now - gladly, but he will have at least, at the VERY LEAST- a 2 year learning curve in DC. Do you think the GOP is going to “help him learn”? I think not.

Unfortunately, Newt will know exactly how to get legislation through, in spite of the GOP. He will have to be watched every step, but he is the only one who actually has a chance of accomplishment.

If you had told me 1 yr ago I’d be supporting Newt, I’d have told you to shoot me to put me out of my misery. But, thanks to Sarah Palin and Mike Pence, here I am.

The 3 things that put me in Newt’s camp are:
1- He gets the Islamic threat inside our country,
2- He gets the judges legislating from the bench and has a plan to stop it,
3- um, um, can’t remember, ooops.

13 posted on 11/12/2011 4:20:08 AM PST by Reagan69 (I supported Sarah Palin and all I got was a lousy DVD !)
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To: FightforFreedomCA

I hope Cain doesn’t fade. Having raked Perry through the coals, I have seen a lot on FR hitting Cain, and now “patriots” like Fred are going after the next in line. I guess “we” won’t be satisfied until Romney is the last fop standing.

14 posted on 11/12/2011 5:33:09 AM PST by trebb ("If a man will not work, he should not eat" From 2 Thes 3)
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To: truthfreedom

The most important asset the candidate needs is to be a good debater especially when your up against liars and cheats. We need a debater that has balls with his advisory as well as the commentators! We can be confident in knowing that zero will be fed what he needs by his handlers and the commentators will dance around him, handle him with soft gloves while ripping the contender a new “a” hole. The debates are important to win if we have a poor debater he wins!

15 posted on 11/12/2011 5:33:31 AM PST by ronnie raygun (V)
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To: Fred

Cain seems to be leading or right on the heels of the leader in most polls.

The Rovians are going crazy that they can’t kill this uppity you-know-what.

16 posted on 11/12/2011 5:47:51 AM PST by TBP (Obama lies, Granny dies.)
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To: floridarunner01
Some polls show Cain is fading among women

They didn't poll me or the women I know.

17 posted on 11/12/2011 5:55:27 AM PST by bgill (The Obama administration is staging a coup. Wake up, America, before it's too late.)
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To: Fred
At the same time, critics claim that Fannie Mae and Freddie Mac became slush funds for crony capitalists within the Fannie and Freddie system who were receiving exorbitant salaries and bonuses that came directly from taxpayer dollars. Conservatives believe Fannie Mae and Freddie Mac are the epitome of the socialist corporatism that is destroying the free market system.

Socialist corporatism? How about crony socialism or crony fascism? It's the socialism, stupid. It's the reason we are in this mess. DEFUND socialist collectives, foreign and domestic. DISMANTLE socialist collectives internally including government agencies/GSE/quasi government collectives. Nice racket...very clever these socialists. Every politician/pig is feeding at the same trough of OPM.

Above all, if you wish to be strong, begin by rooting out every particle of socialism that may have crept into your legislation. This will be no light task. - Frederic Bastiat 1801-1850

Newt is the smartest conman in any room he enters. That being said he did some positive things (light-years ago in political terms) inside the arena and I would vote for him any day over the current King of the Collectivists, The Marxist Messiah, The Redistributor.

18 posted on 11/12/2011 6:03:38 AM PST by PGalt
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To: gardencatz

I agree with every single word...its quite frustrating...

19 posted on 11/12/2011 7:17:20 AM PST by hotsteppa
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To: ronnie raygun

We need someone who will not completely fall apart in a debate.

Win a debate, lose a debate, I don’t know.

We want to make sure that our nominee won’t be so embarrassingly bad that we lose house seats and senate seats.

20 posted on 11/12/2011 4:15:54 PM PST by truthfreedom
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