Newt was paid hush money by Freddie Mac
Dr. Martin Luther King, Jr.: To ignore evil is to become an accomplice to it. …Someone else said “All that needs to happen for evil to prevail is that good men do nothing.” (Edmund Burke)
In the Election of 2010, tea partiers and conservatives sent the loudest message associated with the Grand Old Party of Lincoln since 1948. Hence, the aversion to nominating another McCain Establishment-type named Mitt Romney as the Republican Party standard bearer to replace President Barack Obama after next year’s election.
That aversion is so strong that even the man that lead the GOP out of a forty year Mosaic-like exodus from control of the House of Representatives was an afterthought when the campaign began several months ago.
Sadly, those with the best tea partier credentials in the race have proven such great disappointments that master debater Newt Gingrich now stands as the leading anti-Romney front-runner, despite his numerous non-conservative machinations (Attack on J.C. Watts, embrace of Jesse Jackson, Era of Reagan is over, Cap and trade Pelosi partnership, Paul Ryan as right-wing social engineer, etc ad infinitum) that have accumulated since his ascension to the Speakership in 1995.
That Newt rose to his present lofty poll positions in Iowa and nationally despite the above, even before the revelations of his Freddie Mac ties were revealed, is a testament to just how stark have been the flaws exposed in Michelle Bachmann(reckless with the facts), Rick Perry (foot-in-mouth disease) and Herman Cain (gaps in knowledge).
Tea partiers hold out hope that one of the above can earn a second chance at a first impression, but in the meantime, what are conservatives to conclude about a Gingrich that was paid over a million dollars by a major contributor to the housing bubble and ongoing Great Depression II?
Fannie Mae and Freddie Mac are government sponsored entities (GSEs) that distorted the housing market at the behest of President Bill Clinton and the Democratic Party beginning in the mid to late 1990s by requiring banks and other lending institutions to lower mortgage loan standards so that lower income families could buy homes.
Many of us have wondered why Republican control of the White House and Congress for six years in the 2000 naughts didn’t reverse the policies. Yes, Democrats led by Representatives Barney Frank and Chris Dodd in the House and Harry Reid in the Senate fought against change, including filibuster threats. Yes, Republicans including President George W. Bush and Senator John McCain warned of the danger of Fannie/Freddie policies that also included the mortgage-backed securities that later became the toxic assets that TARP never removed, but we don’t recall any conservative cacophony of opposition before Democrats took over Congress in 2007 and the financial crisis in late 2008.
Now we know why: Fannie and Freddie paid hush money to Newt Gingrich and other Republicans.
There is no problem with one cashing in on their name, power and influence, perse. There is no problem with “lobbying”, i.e. exercising one’s First Amendment rights, per se. There is no problem with giving advice in exchange for monetary compensation, per se.
But what one is being compensated for does matter.
Newt declares that he didn’t lobby for Freddie Mac. Fine and dandy. Voluminous are the things that most people don’t do. Newt declares that his advice to Freddie Mac was to stop guaranteeing bad loans. Wonderful.
Problem is that we can find no evidence that he ever uttered a word in public against his GSE benefactor before the housing bubble burst.
Newt was not paid to give advice to Freddie Mac nor to lobby. Democrats were paid to lobby for them. Newt was paid to prevent him from lobbying against Freddie Mac as he earned his exorbitant fees.
Oh yes, I know that inside the Beltway his fees are considered reasonable. Problem is that the Beltway isn’t reasonable. Hence the tea partier movement that Newt has never been a part of.
Payments to Newt gave cover to Freddie Mac.
Now Newt wants conservatives to trust him to get rid of Freddie Mac?
Open letter to Rick Perry: Get your A-game on and but quick.
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“One man with courage makes a majority.” – Andrew Jackson