“Or do you think that it’s the government’s business to lend people money to buy a house?”
As I understand it he advised them of exactly that. That is was a stupid idea and they should not go in that direction. They didn’t take his advice... Sounds like he was right.
Not exactly true. He advised them, according to him, that people needed to be taught how to better manage their money before they were allowed to obtain a gov-backed mortgage. Great idea, if the plan is to keep the gubmint in the mortgage business... successfully.
And you believe that explanation? What in Newts past shows that he has an aversion for Big Gov't programs. All of his ideas are predicated on Conservative solutions to Liberal premises. He rarely comes straight out and say the premise is BS.
The other thing that does not make sense is why would they pay for Newt to come in and advise them to do things to put them out of business. It has been shown that all of the money spent by Freddie and Fanny was to keep their disastrous plan going by getting nay sayers on board. From what I see, they got Newt involved to teach them how to pick off stubborn GOP'ers for support rather than have him reform their gravy train. It makes far more sense.