Seriously? I mean, I’m not all huge on Newt, but of course a true historian could have valuable economic advice.
Hmmmm - someone that actually studies the cause/effects of what was tried, what the stated goals were, and how it worked out, and you don’t see how he might be able to advise a government agency that sways with the political forces....
That's not what they were after. They wanted insight on the history of GSEs, their technical hurdles, what's worked and not, economic history, their own plans and goals, what's worked in housing and not, about competing models, etc.
He wasn't paid "a million or so bucks" - it went to his group and it was over a 10 year period. $160K/year is not much for consulting. If he was an off the books lobbyist, he worked very cheaply.