Posted by
Mike on Tuesday, January 17, 2012 2:20:13 PM
http://www.westernperspective.blogspot.com/
Newt Gingrich's explanation of why he took money from Freddie Mac will not help him win the Republican presidential nomination. Even if J.C. Watts had come out, in response to the Romney Super PAC ads in Iowa, saying that Gingrich's compensation was not a
quid pro quo for favors received, everyone knows that the $1.6 million paid to Gingrich's company was a waste of taxpayers' money. The fact that other congressional and government retirees were doing the same thing taking money from Fannie and Freedie, as pointed out by Ann Coulter, only reinforces the true public perception that this was all part of Washington's culture of corruption, or prostitution, which the Tea Party was set up to overthrow, not reward. Did Gingrich honestly expect that Freddie would take his not-so-cheap advice to stop making bad loans to sub-prime deadbeats?
Calling to mind Paul Krugman's defense of his high priced consulting fees from Enron, who stated of the advisory panel "had no function that I was aware of" and that his role was "just another brick in the wall".