Tuesday, January 24, 2012
Newt Gingrich And Freddie Mac
Newt Gingrich arranged the release of a contract Monday night showing the Federal Home Loan Mortgage Corp. paid his consulting firm a $25,000 monthly retainer fee in 2006, for a total of $300,000. The agreement calls for "consulting and related services" but makes no mention of lobbying. Mitt Romney says, "This contract proves you were not a historian. You were a consultant," Romney said. "And you were hired by the chief lobbyist of Freddie Mac." Gingrich replied, "Gov. Romney has done consulting work for years," the former House speaker said. "I've never suggested his consulting work was lobbying." Romney has been ramping up criticism for not making the details public sooner. Gingrich said it wasn't only up to him because he no longer controls the firm named in the contract and confidentiality clauses were at play. Gingrich has said previously that firms he ran received about $1.6 million from Freddie Mac for consulting services over several years, and he personally pocketed $35,000 a year. Gingrich was hired again in 2006 by the company's new chief political executive Hollis McLoughlin — he still works there — to speak and write on the benefits of Freddie Mac. He was paid $300,000 for 2006, and received some additional money in 2007. Only the contract covering 2006 was released. He was employed by the political arm of the company for approximately $1.7 million for the sole purpose of convincing fellow Republicans that Freddie Mac was a force for good in America. The person who provided the information on Gingrich's employment pointed to the open-ended nature of the 2006 contract that was released Monday. Gingrich spokesman R.C. Hammond said there are no plans for additional disclosures.
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