Gingrich says Freddie money went to overhead, not him

chicagotribune.com ^ | 12/17/2011 | Sam Youngman

[TBBT]

DES MOINES (Reuters) - Republican presidential candidate Newt Gingrich fought back on Saturday against attacks over the more than $1.6 million in payments he received from mortgage giant Freddie Mac, insisting the money went to overhead for his firm and not to his wallet.

On a teleconference with Iowans, Gingrich said he worked with Freddie Mac to help poor people get homes, and he wanted to "set the record straight."

The payment received over a six-year period was spent mostly on overhead, the former House of Representatives speaker said.

Gingrich's ties to the company have come under increased scrutiny in recent days after six former top executives at Fannie Mae and Freddie Mac were sued by U.S. regulators on charges of misleading investors about the companies' exposure to risky home loans in the run-up to the 2008 financial crisis.

[TBBT]

Bogus issue in my view...

[ColdSteelTalon]

What was the name of Newts Firm???

[bwc2221]

“Bogus issue in my view... “

Kinds like the $35 million Newt got from the pharma industry to shill for Medicare D is a bogus issue?

[biggredd1]

Help poor people get homes? Thats what crashed the economy. Also, here is ann coulter saying tea party wants someone who calls obama a kenyan..
http://www.mediaite.com/tv/ann-coulter-tea-party-ignores-romney-because-theyre-looking-at-who-is-calling-obama-a-kenyan/

[TBBT]

Is should be no surprise to anybody that Gingrich swam in Washington circles from time to time over the years.

That said. Do you really think that any of these candidates are “pure”? They are all politicians. Every one of them.

[dragnet2]

Gingrich said he worked with Freddie Mac to help poor people get homes

I like it!

[GoldenPup]

Gingrich says Freddie money went to overhead, not him

He should just say he was a businessman doing business and being paid for his services...AND SHUT UP!!! The more he lets himself get sucked into this BULLSHIT, the more he is going to harm himself.

USE YOUR HEAD, NEWT!!!!

[sodpoodle]

I believe Newt needs to document what Freddie Mac was paying for: i.e. proposals, market analysis, guidelines, accounting, best practices past and future.

We don’t care how Newt used the payment - just that he provided value for money.

I hope he understands the difference.

[marty60]

I heard the blonde bimbo this Am shilling for Romney, she sounds like she’s backing away from romnuts to the Newt.

She has lost ALL credibility.

[fightinJAG]

Um, that’s the problem.

[dragnet2]

"Gingrich said he worked with Freddie Mac to help poor people get homes"

He should just say he was a businessman doing business and being paid for his services...AND SHUT UP!!!

lol...

[marty60]

Isn’t Salaries part of overhead?

[sodpoodle]

http://useconomy.about.com/od/governmentagencies/p/FHLMC.htm

excerpt

What Freddie Mac Is:
Freddie Mac is the Federal Home Loan Mortgage Corporation, or FHLMC. It was created by the Emergency Home Finance Act of 1970 to create a secondary market for conventional mortgages. It then packages these into mortgage-backed securities, and resells them to investors in the stock market. It is listed on the NYSE.

Freddie Mac affects the U.S. economy by lowering interest rates, which makes more loans available to more new homeowners. For example, lowering the rate from 8.5% to 8% allows 791,000 low- and moderate-income families to buy homes. Freddie Mac also makes interest rates more consistent. Across the nation’s cities, mortgage rates varied by as much as 1.7% in 1970. Today, that difference is only 0.1%.

Freddie Mac stimulates the housing market, which comprises 10% of the economy. By doing so, it creates wealth for homeowners who receive greater equity from higher-priced homes.

[Recovering_Democrat]

...and I spent it ALL on these FABULOUS clothes!

[SunkenCiv]

Thanks TBBT.

[TBBT]

Is should be no surprise to anybody that Gingrich swam in Washington circles from time to time over the years.

That said. Do you really think that any of these candidates are “pure”? They are all politicians. Every one of them.

Furthermore. It's an indictment of the stupidity and ignorance of the masses if they are swayed by this crap and shift their support to other politicians that no doubt - behind the scenes - have acquired similarly dirty hands.

[marty60]

Really?

http://abcnews.go.com/Blotter/newt-gingrich-charity-paid-cash-gingrich-profit-business/story?id=13804431#.TuzqCjVAawU

[edge10]

1.6 million in overhead for ‘advice’ or history lessons or whatever he”s claiming it was for? There is no doubt Newt is truth impaired.

[JCG]

Republican presidential candidate Newt Gingrich fought back on Saturday against attacks over the more than $1.6 million in payments he received from mortgage giant Freddie Mac, insisting the money went to overhead for his firm and not to his wallet.

Interesting. Corzine doesn't know where $1.2 billion went (overhead?) but Newt knows exactly where $1.6 million went. 'Course, Newt's is a much smaller number.

</BSDetector>

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[InterceptPoint]

He should just say he was a businessman doing business and being paid for his services...AND SHUT UP!!! The more he lets himself get sucked into this BULLSHIT, the more he is going to harm himself.

Yup. That's exactly what he should be doing. This is a made up Faux News issue that doesn't deserve another minute of Newt's time.