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Bachmann Slams Gingrich for Freddie Mac Link

GOP candidate Rep. Michele Bachmann attacked latest GOP frontrunner former Speaker Newt Gingrich for receiving over $1 million in consulting fees from mortgage lender Freddie Mac during a campaign event in Webster City, Iowa Wednesday, according to ABC Radio 1250 WTMA.

With some polls showing Gingrich at the top, Gingrich said Wednesday that he did not remember how much he was paid for his work at Freddie Mac from 1997 to 2007. However, a former Freddie Mac official said it was close to $1.5 million.

Gingrich’s involvement with the mortgage lender has become fodder for his competition because Freddie Mac and sister institution Fannie Mae have been blamed for playing a role in the current housing crisis.

“Fannie and Freddie, as you know, have been the epicenter of the financial meltdown in this country,” Bachmann said. “And whether former Speaker Gingrich made $300,000 or whether he made $2 million, the point is that he took money to influence senior Republicans to be favorable toward Fannie and Freddie,” she said Wednesday.

“While he was taking that money, I was fighting against Fannie and Freddie. And I believe that Fannie and Freddie should be allowed to go into receivership and have an orderly winding down. . . And so I’m standing up for the little guy in the United States and I believe that Fannie and Freddie need to be shut down. And so I wasn’t shilling for then, I was fighting them,” she said.

These comments followed a CBS Early Show interview Wednesday morning in which Bachmann also attacked Gingrich for appearing in a television ad about global warming with House Minority Leader Nancy Pelosi, and for his support of an individual health care mandate.

“He was standing with Nancy Pelosi to advocate for a national sales tax on energy. That’s not what we need right now in our economy. He was also the chief author of the individual health care mandate and that is what is [now] known as Obamacare. No one wants to see that either,” Bachmann said.

Posted by TPI editor on 11/17/2011 11:12:43 AM
Filed under: bachmann, freddie, gingrich, mac

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