Will Freddie Mac Contract Hurt Newt Gingrich?

Matthew Dowd talks to George Stephanopoulos about the GOP candidate's campaign.
1:59 | 11/17/11

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Transcript for Will Freddie Mac Contract Hurt Newt Gingrich?
Let's get more on this now from a political analyst Matthew -- and and -- you call this a month ago you said -- would rise he would surged. But we've seen so many other candidates whether it's -- an entertainer Perry take this. Position and then fall back Disney would have staying -- Well I think the expiration date on news it's a little bit longer than the other candidates -- he's -- national campaign experience to he's been under the spotlight before and so he knows what to do and three he's done very well in all these debates that's why I think. He is where is today but but but how damaging could this of scrutiny of his business interest be. He described his work for Freddie Mac classic of course is the failed mortgage giant that so many conservatives -- As and storing things and historian for them and that didn't -- -- fly. Now -- -- tried tonight he's Miss Piggy but he's trying to make it such sat silk purse out of a -- -- -- in this case it's going to be very tough for him to turn this into a positive really kept. You can't be -- insiders outsiders right now his support is coming from the Tea Party and for very conservative voters. And there's a fine line between being understanding Washington in being part of Washington. If this conveys he is part of Washington it's a problem for those voters meanwhile Rick Perry and putting up spending a lot of money putting up ads attacking President Obama coming -- -- the massive reform Washington agenda and not to get -- -- in this race it. May be a little too late I mean not enough that a little bit too late that would have been a great message about two months ago when he started this campaign I think it's actually pitch perfect for the voters the west appeal to. The problem right now as it's put its faith in the voters right now is that they believe he's somewhat incompetent having missing answered a number of questions and not done well at the debate so. It's -- I think resonate well but I think he's probably the wrong messenger at this point maybe admitted doubts that they can help. But I think right now Rick Perry probably on the end of this. At Herman -- I think it was a tipping point what happened -- that editorial board meeting about when he didn't answer the question -- Libya. I think his sort of star has faded and so now I think it's a two person race fastening between Newt Gingrich and Mitt Romney after all of what's gone on this summer as incredible as communism -- -- -- thanks very much.

This transcript has been automatically generated and may not be 100% accurate.

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