Gingrich Says He Offered 'Strategic Advice' to Freddie Mac
12:08 PM, Nov 16, 2011 • By MICHAEL WARREN
"I’d give the same strategic advice in private as I would in public," Gingrich said. At the CNBC debate last week, the former speaker of the House was asked about a payment of $300,000 from Freddie Mac in 2006, and he responded that he had been brought in to consult as a "historian" and that he "offered them advice on precisely what they didn't do" in the run-up to the bursting of the home mortgage bubble in 2007 and 2008.
Here's more on Gingrich's business relationship with Freddie Mac, from Bloomberg:
Gingrich spokesman R. C. Hammond said the campaign is working on collecting documents regarding the Gingrich Group's business with Freddie Mac. "We'll release everything we're legally allowed to release," Hammond said.
Gingrich also defended his support for expanding homeownership in America.
"If you can do it in a way that is financially sound, every American should be interested in expanding housing opportunities for people, whether they are African American or Latino or of any background," Gingrich said. "So, the idea that you’re thinking about how can we help people learn how to budget, how can we help people learn how to save…would strike me, to most people, as a good thing."
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