Nov 16, 2011 1:04pm

Newt Gingrich to Release Freddie Mac Records, Denies Lobbying

ap newt gringrich nt 111116 wblog Newt Gingrich to Release Freddie Mac Records, Denies Lobbying

Richard Shiro/AP Photo

He may be climbing in the polls, but Newt Gingrich has little time to bask in his renewed popularity as he finds himself defending his role and pay at Freddie Mac.

Gingrich’s campaign said today they will release all the documents they legally can of his contract with the once-beleaguered housing giant. Gingrich continued to staunchly deny reports that he ever lobbied for the group, but he skirted questions about the financial payouts he received from Freddie Mac for his contracting work.

Bloomberg News reported Tuesday that the former House speaker made between $1.6 million and $1.8 million in consultation fees in a nine-year span. Sources told Bloomberg that in 2006, Gingrich was asked “to build bridges to Capitol Hill Republicans and develop an argument on behalf of the company’s public-private structure that would resonate with conservatives seeking to dismantle it.”

Gingrich says he never lobbied on behalf of Freddie Mac and that he simply offered “strategic advice over a long period of time.”

“I was approached to give strategic advice. I was glad to offer strategic advice and we did it for a number of companies and Gingrich Group was very successful,” he said today at a fundraising breakfast in Iowa.

Speaking on the radio program the “Mark Levin Show” Wednesday Gingrich said that he did not have to take any clients whose views and actions did not coincide with his own.

“We said flatly from day one we will do no lobbying of any kind, and I will not take any client who has a position I don’t agree with,” Gingrich said.

When asked about his compensation, the former congressman said he couldn’t verify the specific amount. Gingrich later said on the “Mark Levin Show” that “they paid a fee which is a relatively standard Washington fee for that kind of advice,” and that “they pay pretty reasonably.”

A Freddie Mac spokesman confirmed to ABC News that Gingrich was a consultant for the group, not a lobbyist, but would not disclose his financial payout or details of his contract.

Even though it may not have been defined as such, the reports have many wondering whether Gingrich’s work came close to lobbying.

In a climate where Americans are disgruntled with Washington, it has also given ammunition to Gingrich’s opponents to paint him as Washington insider. Rep. Michele Bachmann made the first swing, attacking Gingrich for taking money from Freddie Mac, which most Republicans advocate shutting down.

The report has also raised questions about his credibility. Gingrich said during the CNBC debate last week that he told Freddie Mac that giving loans to people who have no credit history or a viable financial record is a bubble and “is insane.” Speaking on the “Mark Levin Show” Wednesday he said that he advised the company to restructure their business.

“I spent a fair amount of time trying to suggest a totally different model, where if you wanted to expand the number of people owning homes, you need to expand the number of people capable of owning homes,” Gingrich said. “You don’t just give people a house, because they have no idea what they’re doing.”

But sources told Bloomberg that Gingrich neither predicted the housing bubble nor did he raise concerns about Freddie Mac’s business model.

The former House speaker said today that he provides the same advice in public that he does in private. But soon after his contract with Freddie Mac ended, Gingrich turned on the organization.

He has blamed Freddie Mac and Fannie Mae for distorting the home loan market, and Democrats for having close ties with lobbyists at Freddie Mac. But he’s avoided mentioning his own connection to the government-backed lender.

“If you want to put people in jail… You ought to start with Barney Frank and Chris Dodd. And let’s look at the politicians who created the environment, the politicians who profited from the environment, and the politicians who put this country in trouble,” Gingrich said during the Washington Post/Bloomberg GOP debate on Oct. 11. “In Barney Frank’s case, go back and look at the lobbyists he was close to at Freddie Mac.”

Gingrich now supports disbanding both Fannie Mae and Freddie Mac, and wants to get “much smaller institutions back into the private sector to be competitive and to be responsible for their behavior.”

When asked today how he will have the discipline to confront the new scrutiny, Gingrich blasted the “elite media” and expressed confidence that he will easily jump this hurdle.

“I’ve confronted the scrutiny… in an even-keeled way,” he said today at a forum held by Politico in Des Moines, Iowa. “If I blow up and do something utterly stupid, they [GOP voters] will go, I wonder who the next candidate is. … Everybody will dig up everything they can dig up and that’s fine they should. Everyone will, they didn’t do this on Obama, but then after all, the elite media wasn’t exactly eager to learn much about him when he was running.”

ABC News’ Elicia Dover contributed to this report.

SHOWS:

User Comments

Here we go. The nut jobs are coming out and atcking him now. Where were these nuts when Obama was tied with a radical preacher? and freddie and fannie. Did not Obama apoint one of their CEOs to be on his administration??

Posted by: Jim Rod | November 16, 2011, 1:31 pm 1:31 pm

If Gingrich received millions of dollars to “build bridges” between FreddieMac and “bridges to Capitol Hill Republicans”, but does that NOT to be lobbying, either he is a liar or ignorant. Either way, he is not qualified to be President of the Unite States.

Posted by: Larry Linn | November 16, 2011, 1:33 pm 1:33 pm

Even though Gingrich’s payouts were chicken feed to what Democrats and Barney Frank’s life partner made in Freddie and Fannie bonuses, this is important for Republican voters to know. John Huntsman….where are you???

Posted by: pam | November 16, 2011, 1:54 pm 1:54 pm

He is going to release the records – you mean actually show the records – you mean be transparent – wow he must not be a democrat

Posted by: jamescbuilder | November 16, 2011, 2:10 pm 2:10 pm

Another witch-hunt by the lamestream media. In the meantime you have scandals galore emanating from the Obama WH and where is the media coverage? Out doing a hatchett job on another GOP candidate.

Posted by: Gunner_1959 | November 16, 2011, 2:27 pm 2:27 pm

Democrats would rather this information came out AFTER Gingrich becomes the party’s choice.
It does them no good to dig up dirt about people who may end up on the cutting room floor.

Who stands to gain the most from these revelations??? Certainly the Republican front runners: Cain and Romney. They must be rubbing their hands with glee.

But for Democrats…no use flinging mud unless you know it’s going to stick to the winning Republican pig….and that’s still several months away

Posted by: Brad Naksuthin | November 16, 2011, 2:31 pm 2:31 pm

This is a non-story and a big so what.. I think it great that he will release the paper trail. Maybe the current clown in chief should take notes on how to be transparent. Any half intelligent moran knows that these companies are where the dems went for their handouts, Gorelick and Raines should be in jail or return their cooked books bonuses, Newt was paid on a contract. You are gonna have to find something more damaging than this because he is the only one that offers solutions to todays problems and is probably the only one that knows what it will take politically to get it done.

Posted by: Matt N. | November 16, 2011, 2:34 pm 2:34 pm

It sounds like to me Gingrich took money from Freddie Mac in order to shut him up
A Republican Capitol Hill veteran said, “the one thing to remember is that during that period just about every lobbyist/consultant (R and D) was on payroll for Fannie or Freddie. Their strategy then was to pay everyone so that no one would be lobbying against them.” And it worked — until the housing bubble burst and it all came tumbling down.

So he might be telling the truth. He didn’t lobby FOR Freddie Mac…he just took money and promised not to “lobby against them”.

And if that’s correct, what they did was pay “hush” money to Gingrich.

Too bad. Now whenever Republicans call our “Barney Franks” name, Democrats are going to add “Gingrich’s” name to the list.

Posted by: Brad Naksuthin | November 16, 2011, 2:36 pm 2:36 pm

Newt is such a hypocrite, he said Obama and McCain should give back any contributions made by Fannie and Freddie yet he got AT LEAST 1.5 million from them AND helped kill regulations that would have helped stop this mortgage crisis fiasco! Shows how DUMB the GOPers are to even consider this greedy fool!

Posted by: Hege1321 | November 16, 2011, 2:46 pm 2:46 pm

Right on time with your smear campaign ABC. Newt is rising in the polls.
How obvious can you be? Liberal media bias!!!!

Posted by: tall mako | November 16, 2011, 2:49 pm 2:49 pm

“The former House speaker said today that he provides the same advice in public that he does in private. But soon after his contract with Freddie Mac ended, Gingrich turned on the organization.
He has blamed Freddie Mac and Fannie Mae for distorting the home loan market, and Democrats for having close ties with lobbyists at Freddie Mac. But he’s avoided mentioning his own connection to the government-backed lender.”___LOL lying by omission, HAHAHAHA!!!!!! Notice how Fox and Dumbaugh don’t report this stuff?

Posted by: Hege1321 | November 16, 2011, 2:54 pm 2:54 pm

really…when are we going to find out about our sitting president?what were his grades and did he use his indonesian citizenship to get into college. why are his records sealed? why doesnt the media inquire about rezko blago ayers and soros as well as solandra and the energy department doling out stimulas money to donors?why is it that the media only holds up republican nominees?why did it take take 60 minutes to expose pelosi?

Posted by: catman | November 16, 2011, 2:58 pm 2:58 pm

“Sources told Bloomberg that in 2006, Gingrich was asked “to build bridges to Capitol Hill Republicans and develop an argument on behalf of the company’s public-private structure that would resonate with conservatives seeking to dismantle it.”?”___ie tell us how much money to give fellow Republicans so that we can keep getting government (taxpayer) money. Grinch’s Contract on America has finally finished the job by wrecking the middle class.

Posted by: Hege1321 | November 16, 2011, 2:59 pm 2:59 pm

He’s rising in the polls because Republicans are starting to run out of candidates to back. Just get it over with and nominate Romney. “Obi-Rom…you’re our only hope!”

Posted by: Bob | November 16, 2011, 3:00 pm 3:00 pm

Grinch must be getting dementia, first he forgot his interest free loan from Tiffanys for his latest wife’s bling now he forgets getting AT LEAST 1.5 million from a quasi agency/corporation who he despises…now that he’s no longer on their payroll:)

Posted by: Hege1321 | November 16, 2011, 3:03 pm 3:03 pm

Grandmomma always said; “That which is in the dark shall surely come into the light.” Seems as Newt has the spotlight on him now! Try as he might there is no way that he can clean this up… just like the other stuff he can’t clean up. SMH… (Shake My Head)

Posted by: MyTakeOnThis61 | November 16, 2011, 3:04 pm 3:04 pm

Freddie mac, put the “rich” in Gingrich LOL….typical republican a lying, greedy, hypocrite.

Posted by: Hege1321 | November 16, 2011, 3:05 pm 3:05 pm

Newt Gingrich thinks he’s smarter than all the other republican candidates which is true except for Huntsman. He forgets Gulliver looked like a giant compared to the Lilliputians. The man has no presidential traits what-so-ever. He talks down to people who haven’t been as fortunate as him.

He writes and reads books about history but nothing sinks in. If he would read American History from 1930 to 1945 he’d find out that spending (jobs programs and WWII) got us out of the Great Depression. Now he’s joined the rest of the republicans who like to fiddle while our economy burns.

Posted by: tmferretti | November 16, 2011, 4:00 pm 4:00 pm

People in this country better start thinking about how bad this country will be if we have 4 more years of what we have now…..there is not one American in this country that does not come with some sort of baggage nn not one…..but at the end of the day we must vote Obama out of office to get America back where it was…4 more years will destroy us for years to come.

Posted by: Dell | November 16, 2011, 4:05 pm 4:05 pm

I sure hope the GOP has a surprise candidate, otherwise they are running out of flavors of the week. & this one’s flavor is a dingy, pasty white. Yuk. Next!

Posted by: gypsyEyes | November 16, 2011, 4:16 pm 4:16 pm

DELL

You have it backwards. Let’s keep President Obama and throw the republicans out like we did for FDR in the great depression. The republicans have been pushing trickledown for 80 years. That’s because the guys on top are them.

Posted by: tmferretti | November 16, 2011, 4:16 pm 4:16 pm

Dell has had it backwards since the year 200, they should be called Lled.

Posted by: gypsyEyes | November 16, 2011, 4:23 pm 4:23 pm

uh, I meant the year 2000, they were damn great in the 90′s

Posted by: gypsyEyes | November 16, 2011, 4:23 pm 4:23 pm

gypsyeyes, you sound just like Obam, “I said this, but I meant that”. Sotomayer would also be pleased, she has a bad habit doing that also.

Posted by: specialty57 | November 16, 2011, 4:34 pm 4:34 pm

President Clinton used to play Gingrich like a drum. Newt would come up with some half a—ed proposal or bill in his contract on America. Clinton would let it run until the people were so p—sed off that Gingrich would try to find a way out and save his position as Speaker. Then the president would offer him a compromise that practically gutted Newt’s bill and saved his butt. That way President Clinton got most of what he wanted and so did our country.

Posted by: tmferretti | November 16, 2011, 4:36 pm 4:36 pm

Obama. Gingrich. No wonder our country is sliding into oblivion. Look, Newt can’t even manage himself, his wives and he has a long public record of failure. He’s Obama of the right. Unless you are looking for a better parking space when stupid becomes a handicap, move on.

Posted by: ray | November 16, 2011, 4:41 pm 4:41 pm

There are a lot of smart republican leaders out there, although I don’t agree with them on most issues I respect them. Rudy Giuliani, Chris Christi, Michael Bloomberg, Colin Powell, Fred Thompson, Alan Simpson, Jeb Bush, Olympia Snow on and on. Why the hell can’t the Republican Party talk one of them into throwing his/her hat in the ring and end this embarrassing circus?

Posted by: tmferretti | November 16, 2011, 4:48 pm 4:48 pm

Ferrtti, sorry, Clinton had a republican congress that kept him under control. He did very little but ride the wave.

Posted by: specialty57 | November 16, 2011, 4:50 pm 4:50 pm

As Rush Limbaugh always says, you can tell who liberals fear the most by who the Democrats and the media try to destroy the most. Just look at the onslaught of attacks in the last two days. Newt is being attacked worse than Sarah Palin has. You can bet that a left wing organization is responsible for the flyers being passed around the state of Iowa detailing Newts marriages etc. The state run liberal media and the “establishment right wing media”, will do their best to see to it that he is not the nominee. This tells me that Newt is the right candidate. Obama will be effectively “Newtered” after Newt is done with him in the debates.

Posted by: Tony | November 16, 2011, 4:53 pm 4:53 pm

@ Specialty57, uh i think the saying is , To err is human , to forgive is divine, & to be GOP is just plain asinine. bc they are a bunch of rich whiners who aren’t going to win that many more power grabs. So you’re calling me out on the mistake I said 200 instead of 2000? whew glad there isn’t many people like u, think how crappy the world would be, wait it’s here, Thanks GOP!

Posted by: gypsyEyes | November 16, 2011, 4:55 pm 4:55 pm

Truthfully, can any of you OBam people say yo are happy with Obam? Solyndra scandal, Fast and furious scandal, close door meetings, bribes and dirty deals to get a useless Obamacare bill not many want but is being forced on us. The stimulus failure, and now he wants another half trillion dollar band aid just like the first wasted trillion that failed. Are you really happy with this? If so, 4 more years of it you will learn. You have been BS.

Posted by: specialty57 | November 16, 2011, 4:56 pm 4:56 pm

Truthfully, can any of you OBam people say yo are happy with Obam? Solyndra scandal, Fast and furious scandal, close door meetings, bribes and dirty deals to get a useless Obamacare bill not many want but is being forced on us. The stimulus failure, and now he wants another half trillion dollar band aid just like the first wasted trillion that failed. Are you really happy with this? If so, 4 more years of it you will learn. You have been BS.

Posted by: specialty57 | November 16, 2011, 4:56 pm 4:56 pm

Gypsy,I was only joking. Sorry you took it the wrong way.

Posted by: specialty57 | November 16, 2011, 5:07 pm 5:07 pm

Yes Specialty57 We are very happy with Obama. We are very weery & leery of Rush Limbaugh talking points because we know that he & Fox News are the source of the lies & fabrications & things that aren;t true. Unhappy with obama haters.

Posted by: gypsyEyes | November 16, 2011, 5:09 pm 5:09 pm

Specialty57, Yes I am happy with Obama’s accomplishments, although I wish he would not have backed down to the right (ironic name for a group whose policies are always wrong) so much. He’s accomplished more in his 3 years than GW or Reagan did in 8, and that includes helping dig us out of the hole created by GW’s (and his GOP predecessors’) failed policies. I’m so looking forward to Obama’s second term, and I truly expect more monumental accomplishments despite the right’s resistance to what is good for this nation!

Posted by: lil' Davy | November 16, 2011, 5:19 pm 5:19 pm

@Specialty57, that’s ok, I know GOP suffers from not knowing how to be funny. poor guys, all they have is dennis miller & he’s like fingernails on a chalkboard , which isn’t funny either. So maybe no funny people in GOP, just messed up thinking & ideas, that cater to ‘the job creators’

Posted by: gypsyEyes | November 16, 2011, 5:20 pm 5:20 pm

I stand corrected what Tony said is the most funny thing I’ve heard all day. Quoting Rush Limbaugh??? Bwa ha ha ha!!!!!! not much of a thinker are you? LOL

Posted by: gypsyEyes | November 16, 2011, 5:22 pm 5:22 pm

Tony, Is that your final answer . LOL

Posted by: gypsyEyes | November 16, 2011, 5:27 pm 5:27 pm

He’s an arrogant hypocrite. He always has been. He thinks that what he says doesn’t have to be the same as the way he lives. He’s a nutcase, actually. Obama is no better. They’re actually very similar. They’re both narcissists craving approval and attention. We don’t need either of them in the White House. Choose a normal person.

Posted by: Doc | November 16, 2011, 6:13 pm 6:13 pm

Even though Gingrich’s payouts were chicken feed to what Democrats and Barney Frank’s life partner made in Freddie and Fannie bonuses, this is important for Republican voters to know. John Huntsman….where are you??? POSTED BY: PAM *************Gee PAM, what planet are you from?

Posted by: michael | November 16, 2011, 6:20 pm 6:20 pm

Out doing a hatchett job on another GOP candidate. POSTED BY: GUNNER_1959
**********************Yeh, Gingrich is doing a fantastic job of butchering himself without
ANYONE helping LOL!!!!!

Posted by: michael | November 16, 2011, 6:28 pm 6:28 pm

As Hush Limbaugh always says, you can tell who liberals fear the most by who the Democrats and
the media try to destroy the most. POSTED BY: TONY******************************************************
Tony,tony,tony…Is this the best the oxycodin addicted messiah can come up with??? If HE is
sooo knowledgeable, why wouldn’t he run for ANY public office? Oh don’t tell me… the media
would eat him up…. heck, with his obesity, they would have leftovers for a whole month! LOL!!!

Posted by: michael | November 16, 2011, 6:39 pm 6:39 pm

Right on time with your smear campaign ABC. Newt is rising in the polls.
How obvious can you be? Liberal media bias!!!! POSTED BY: TALL MAKO |
*****What a shame, they’re really lagging behind FOXNEWS for being biased
this time !!!

Posted by: michael | November 16, 2011, 6:43 pm 6:43 pm

Is it true that GOP primary ballots are being printed with a “None of the Above” option?

Posted by: green.goddess | November 16, 2011, 7:30 pm 7:30 pm

So let me get this straight. Newt, while working in the private sector, contracted with a company (one that has been vociferously defended by Barny Frank, Chris Dodd, Nancy Pelosi and BHO) to provide them with strategic advice on a topic he’s familiar with (how to navigate washington), and this is a scandal? How exactly?

The fact is, between all of Newt’s baggage, the 2 divorces, the so-called ethics violation charges (99% of which were dropped), and this splitting hairs over lobbying, NONE of this compares to a single one of Obama’s own scandals. Has Newt’s actions resulted in the death of a border guard? Did Newt put the fix into 500 million to a company backed by one of his wealthy bundlers?

I look forward to the day that Newt faces off with Obama and shows him what a real American is like. And to those that are “happy” with Obama, please check yourself into the nearest local mental health facility – you’re a danger to yourself and your community.

Posted by: The Obnoxious American | November 16, 2011, 7:56 pm 7:56 pm

Pah-leeeze! $1.6M for “historian consultation” is obviously a wink, wink, nudge, nudge cover for influance trading. This is such a clear example of how dirty the political influance tarding is that it is the textbook example. Obama would have had an easy win over Gingrich without this problem, but with it Gingrice would lose by such a wide margine that the Democrates could take back the House.

Posted by: Greggw | November 16, 2011, 10:11 pm 10:11 pm

Time for Pubs ,Indies, TEAS et al to say So what to the MSM. No more caving into their smears or hit pieces. They never touch any perverted Dem ala Frank, the Kennedys, MLK, or Clinton. Just Pubs. It is too important an election just to keep smearing all the Pubs as they come up to challenge Mr. Socialst in Chief.If the rotten MSM had done their investigative work on this Demoncrat in the WH, we would not have 15 trillion in deficits, no energy policy, Obamacare and joblessness at this high rate of nearly 14% underemployed nor would would we have a leftist Dem Senate stonewalling the Pub House on bills to aid the economy. To hell with the MSM and their charges. Newt stays and so does Mitt or any Pub. We have a nation to save and the MSM is allied with the destroyers of our republic and the naif in the WH.

Posted by: Glenn Koons, LB, Ca. | November 16, 2011, 11:55 pm 11:55 pm

Sure, Good Ole Newt made millions not doing anything (paid retainer) by companies that were ultimately bailed out with taxpayer dollars, but hay….it’s OK…he’s a Republican after all. Therefore he is inherently moral. I mean really…it’s not like he had sex or anything like those nasty dirty evil Democrats do. Everything the Democrats do is inherently immoral.

Seriously, I can’t believe this guy could even get elected mayor of a small city. He was one of the Republican representatives who led the push that inevitably forced America to watch it’s President describe his intimate details to the world. In my opinion Newt Gingrich represents one of the lowest levels of political slime that has ever received a vote.

Posted by: Dugese | November 17, 2011, 12:58 am 12:58 am

lil’ Davy | November 16, 2011, 5:19 pm ——- Please point out 3 successful Obama policies?

Posted by: commonsenseparty | November 17, 2011, 2:40 am 2:40 am

Dugese | November 17, 2011, 12:58 am —— You mean Clinton? Grand jury liar? Screwin’ in the actual Oval Office? Guess what braniac, Clinton disrespected the office of the POTUS more than anyone except for maybe Nixon and he wouldn’t come clean without being forced to do it. Clinton caused us to spend millions because he wouldn’t tell the truth and you are stupid enough to say it was Newts fault? Truly clueless.

Posted by: commonsenseparty | November 17, 2011, 2:48 am 2:48 am

Ol’ Newt (speaker Newt) was in on the government shutdown in 95′ and we sure don’t need that mentality now. Gingrich has many more skeletons in his closet and eventually they will come out just like the rest of the candidates. Now what about Huntsman? This guy really needs to be vetted because he just may be the one that has a consistent message and I am still looking for his skeletons but, not much luck. Huntsman is one smart guy and people really need to look at him.

Posted by: Indymind | November 17, 2011, 7:39 am 7:39 am

INDYMIND

You just put the nail in Jon Huntsman’s coffin. You said he was smart (I agree) and that means he stands no chance in the republican environment. They are looking for stupid, childish and someone who can bash the president three times a second.

Posted by: tmferretti | November 17, 2011, 3:42 pm 3:42 pm

If Newt Gingrich was going to release them, then where are they? What a hypocrite and fraud!

Posted by: Uomo Del Ghiaccio | January 23, 2012, 8:14 am 8:14 am

Leave a Reply

Do you have more information about this topic? If so, please click here to contact the editors of ABC News.