Will Gingrich’s Freddie Mac Involvement Impact Campaign?
New questions about relationship
- Duration 4:24
- Date Nov 16, 2011
New questions about relationship
Also in this playlist...
This transcript is automatically generated
But let's talk about Newt Gingrich -- pull it up here we have been reporting.
And in fact it was a prominent question in the debate on.
Saturday evening and I think John Harwood put the question.
To Newt Gingrich.
Why did you get paid 300000.
Dollars by Freddie.
Back and now we know according to Bloomberg News it was one point six million.
By Freddie Mac which is largely collapsed in had to be bailed out by taxpayers.
It -- do you think this is a problem for him.
I definitely think this is a problem for him I think.
The east side new Gingrich Begin his campaign early on came in in early warm days of summer and it was.
I kind of crashed and burned early on a lot of the staff departed all went to Rick Perry's campaign encouraged him to run.
Intended Gingrich laid low during the summer in -- all of the debates leading into the fall was just kind of nice to the other folks on the stage.
-- now as there's been a sort of musical chairs in the race of who is the candidate who is the alternative to Romney.
It looks like -- Gingrich is -- the stunning when the spotlight shone on you.
That's an all of these things like this one point six some million dollars from the -- Freddie Mac and -- -- -- start to come to light.
So really it's gonna be it remains to be seen -- Gingrich sort of weather the storm with all of his baggage.
As the spotlight gets a lot brighter.
Here's the here's the problem for Gingrich when it comes the Freddie Mac stuff show.
-- explanation seems perfectly reasonable his explanation was what they came to me soliciting advice.
Saying we've got all kinds of mortgage jurors.
And more -- Do you know don't have any collateralized.
Loans they're not qualified.
But the government's forcing us to lend the money.
And you know they don't have sufficient -- but we're getting pressure from the government what do we do and he says look I told this is a bubble you can't sustain it you gotta get out of it.
And they didn't follow his advice sounds reasonable doesn't it.
-- that was all of the advice one point six million dollars back.
I -- -- thing I wanna get that he had no idea that's.
But again you know going back to it -- ties right back to the the first story which is the indeed people pay for the expertise and he's the guy who was the speaker of the house.
One would expect that he -- you know probably did a lot more detail than just united.
Just that and and you know it's the same argument -- made in the private sector we win them when the shareholders go.
But I don't we lost money and -- paying this guy a 25 million dollars right.
This is ridiculous it just stakes even though his explanation seems perfectly reasonable sort of the headline stakes.
Right well the whole the whole thing reminds me of there's a hot air balloon race that I go to in Vermont every year and its history you know here comes -- Here comes the balloon and everybody's gonna take shots at it and it's unfortunate for him that the timing -- they hearing.
Or maybe someone else and on the Republican side you know tie these two things together well.
In the end you know Kristen.
Here's the thing his explanation better holds off.
Or he's toast because if it turns out that he was paid one point six million for other things like -- lobbying.
It could turn badly forum -- made a list here of the baggage that's associated.
With Newt Gingrich and -- It's finally have baggage when your polling in the low single digits because nobody's paying attention to you nobody cares.
Now that he has inflated to the top probably by.
Here -- here -- the issues he once endorsed cap and trade.
Now he opposes it.
He advocated at one point in time.
The health care mandate that people must buy health insurance.
Course now he doesn't.
So he's hooked on those two things he was once fine and this is pretty astonishing 300000.
In penalties for ethics violations.
When he was speaker of the house the only speaker.
Ever to be charged.
And penalized with ethics violations.