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In recent months, GOP presidential candidate Newt Gingrich has strongly criticized Freddie Mac and sister company Fannie Mae, as well as Democrats in Congress that he claims played a key role in the collapse of the housing market. And yet two former Freddie Mac officials recently told Bloomberg that Gingrich made between $1.6 million and $1.8 million in consulting fees from the mortgage company.That amount is significantly larger than the $300,000 payment that Gingrich was asked about during a Republican presidential debate on Nov. 9.
The Freddie Mac officials also told Bloomberg that Gingrich was asked to build bridges with Capitol Hill Republicans and help sell the mortgage company's public-private structure to conservatives.
While campaigning in Iowa this week, the former House Speaker disputed these claims. "I do no lobbying of any kind, and I offered strategic advice and that's all I do," Gingrich said. "I don't go to the Hill. I don't lobby in any way. I haven't for the years I've left the speakership, period."
In a discussion with HuffPost's Jon Ward Tuesday, Gingrich made similar claims.
"I have no idea what the dates were. I offered strategic advice over a period of time. I did no lobbying of any kind. And I'm very happy to offer people strategic advice if they come and ask my advice," he said.
See the full article at The Huffington Post.
Also see:
Congress Targets Exec Bonuses At Fannie and Freddie
Fannie, Freddie Execs Score $100 Million in Bonuses
FHA Mortgage Loan Limits To Rise Again
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