Newt Gingrich + Freddie Mac + Presidential Run = Spin + Doubletalk

newt_gingrichApparently, adultery isn’t the only moral transgression of Republican presidential candidate Newt Gingrich. That transgression only destroyed two of his three marriages.

As reported by Salon, Gingrich’s latest exposed moral transgression places him in the seat of responsibility for setting off the global financial crisis.

Says Salon’s Alex Pareene, “Gingrich is in the midst of his spite-driven campaign death spiral at the moment but he’s still loudly defending himself against the charge that he actually did what Freddie paid him to do, because that would, in the GOP interpretation of history, make him responsible for the entire recession.”

Freddie Mac paid Gingrich’s consulting firm at least $1.6 million for his time. He took a great deal of money from Freddie Mac, which, according to Republican lore, caused the financial crisis.”

What exactly did Freddie Mac pay Gingrich to do?

According to Salon, “Gingrich’s job was to get Republicans on board with the profit-maximizing strategies of the GSEs, and [Gingrich’s] own former chief of staff was Fannie’s senior vice president for regulatory policy (i.e., lobbying for looser regulations).”

newt-gingrich-freddie-mac-sign

World News Wednesday

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