So Gingrich thinks private equity is crony capitalism but accepting 1.5 million in consultation fees from a corrupt taxpayer funded institutions
Ike Freddie Mac is legitimate capitalism.
Newt has shown time and time again why he is unstable.
Fannie and Freddie were publically traded companies. They were not funded by the taxpayer until they got bailed out after 2008. Newt at the time spoke publically saying they should not be bailed out.
Gingrich didn’t say Bain was crony capitalism, which is when the government picks the winners in a business field either by investing in them heavily, buying them, or assigning them all its business.
Bain apparently did do certain things knowing that the government would have to pick up the slack (taking the cash reserves of a bank, for example, or a pension fund) because these were federally insured areas. But that’s just plain cynicism and unscrupulousness and is a different matter.
Getting a contract to do a particular service for a government agency is not crony capitalism. All kinds of companies, including consulting firms, do it all the time; Gingrich’s company did consulting for other entities, but his expertise was in government and that was what he was hired for. Of course, they didn’t accept any of his suggestions, but that’s a different matter.
And watch it with the “unstable” or people will think you’re working for the Romney campaign, since that’s one of their latest memes. Or maybe you are?