Newt Gingrich’s $300K Jackpot

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When CNBC’s John Harwood asked Newt Gingrich what he did to earn $300,000 consulting for Freddie Mac, he said that he offered them historical advice. This is so plainly implausible that there’s not much point in wasting time pretending to take it seriously enough to debunk it, but Bloomberg reporters Clea Benson and Kristin Jensen took the time anyway. That’s professionalism for you. And the real answer turns out to be sort of interesting in a way. Gingrich, we’re told, didn’t perform any lobbying:

Freddie Mac officials expected Gingrich to provide written material that could be circulated among conservatives on Capitol Hill and in outside organizations, said two former company executives familiar with Gingrich’s role at the firm. And executives looked to him to help them find innovative ways to address the problems confronting Freddie Mac, said an official familiar with the company’s internal dynamics.

The former speaker attended brainstorming sessions with Freddie Mac’s management. He didn’t produce a white paper or any other document the firm could use on its behalf.

Impressive! Gingrich was expected to provide written material, but whatever that was, it wasn’t substantial enough to even be called a white paper. All he did, apparently, was shoot the breeze with company brass, schmooze donors to Freddie’s PAC, and give a speech or two. For that he got paid $300,000.

That’s some pretty lucrative historical advice, no? Where do I sign up for this kind of payday?

More MotherJones reporting on Dark Money

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SIX TRUTHS

Reclaiming power from those who abuse it often starts with telling the truth. And in "This Is How Authoritarians Get Defeated," MoJo's Monika Bauerlein unpacks six truths to remember during the homestretch of an election where democracy, truth, and decency are on the line.

Truth #1: The chaos is the point.

Truth #2: Team Reality is bigger than it seems.

Truth #3: Facebook owns this.

Truth #4: When we go to work, we're in the fight.

Truth #5: It's about minority rule.

Truth #6: The only thing that can save us is…us.

Please take a moment to see how all these truths add up, because what happens in the weeks and months ahead will reverberate for at least a generation and we better be prepared.

And if you think journalism like Mother Jones'—that calls it like it is, that will never acquiesce to power, that looks where others don't—can help guide us through this historic, high-stakes moment, and you're able to right now, please help us reach our $350,000 goal by October 31 with a donation today. It's all hands on deck for democracy.

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