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?
“Getting a contract to do a particular service for a government agency is not crony capitalism”
Gingrich is no finance expert ond neither is he a expert on mortage backed securities or risk management.
Then why would Freddie Mac hire Gingrich as a consultant for, if not for his links with Capital hill and influence on congress.
This is exactly the kind of crony capitalism which you despise.
As recently as mid last year, Gingrich threw Ryan’s budget plan under the bus, Ryan’s plan was one of the well though policies to reform entitlements in recent years and Gingrich is his typical selfish, egoistic displays criticised Ryan’s plan as right wing social engineering.
It is very clear Gingrich cannot be trusted and his behaviour is not stable.