Newt Gingrich: The World’s Most Expensive Historian

<a href="http://motherjones.com/mojo/2011/11/newts-fannie-mae-lobbying-whopper">Gingrich Productions</a>

Let our journalists help you make sense of the noise: Subscribe to the Mother Jones Daily newsletter and get a recap of news that matters.


When Newt Gingrich was asked by CNBC’s John Harwood why Freddie Mac paid him $300,000 in 2006, he played his wild card: He was hired, he said, for his analysis as an “historian.” We called baloney—and sure enough Bloomberg reported on Tuesday that Gingrich more or less did the opposite of what he said he did. And now they have a follow-up, with the full price tag: Over eight years, Gingrich was paid $1.6 million, or approximately 100,000 $16 muffins, for his work.

Clea Benson and Dawn Kopecki report:

The total amount is significantly larger than the $300,000 payment from Freddie Mac that Gingrich was asked about during a Republican presidential debate on Nov. 9 sponsored by CNBC, and more than was disclosed in the middle of congressional investigations into the housing industry collapse.

Gingrich’s business relationship with Freddie Mac spanned a period of eight years. When asked at the debate what he did to earn a $300,000 payment in 2006, the former speaker said he “offered them advice on precisely what they didn’t do,” and warned the company that its lending practices were “insane.” Former Freddie Mac executives who worked with Gingrich dispute that account.

The former officials said he helped craft and shape the agency’s message in its efforts to win over lawmakers. That’s in contrast to Gingrich’s more recent statements; asked about his efforts by Harwood, he said he had sharply criticized the mortgage giant’s housing policies and warned that its practices could hurt the economy.

Should his current surge in the polls continue much longer, it’s unclear what will hurt him more: His business dealings after leaving the House, or his business dealings while he was still in the House, which prompted him to resign in disgrace. Or given the GOP base’s ability to look past the flaws of any candidate not named Mitt Romney, he might just be in the clear.

IT'S NOT THAT WE'RE SCREWED WITHOUT TRUMP:

"It's that we're screwed with or without him if we can't show the public that what we do matters for the long term," writes Mother Jones CEO Monika Bauerlein as she kicks off our drive to raise $350,000 in donations from readers by July 17.

This is a big one for us. It's our first time asking for an outpouring of support since screams of FAKE NEWS and so much of what Trump stood for made everything we do so visceral. Like most newsrooms, we face incredibly hard budget realities, and it's unnerving needing to raise big money when traffic is down.

So, as we ask you to consider supporting our team's journalism, we thought we'd slow down and check in about where Mother Jones is and where we're going after the chaotic last several years. This comparatively slow moment is also an urgent one for Mother Jones: You can read more in "Slow News Is Good News," and if you're able to, please support our team's hard-hitting journalism and help us reach our big $350,000 goal with a donation today.

payment methods

IT'S NOT THAT WE'RE SCREWED WITHOUT TRUMP:

"It's that we're screwed with or without him if we can't show the public that what we do matters for the long term," writes Mother Jones CEO Monika Bauerlein as she kicks off our drive to raise $350,000 in donations from readers by July 17.

This is a big one for us. So, as we ask you to consider supporting our team's journalism, we thought we'd slow down and check in about where Mother Jones is and where we're going after the chaotic last several years. This comparatively slow moment is also an urgent one for Mother Jones: You can read more in "Slow News Is Good News," and if you're able to, please support our team's hard-hitting journalism and help us reach our big $350,000 goal with a donation today.

payment methods

We Recommend

Latest

Sign up for our free newsletter

Subscribe to the Mother Jones Daily to have our top stories delivered directly to your inbox.

Get our award-winning magazine

Save big on a full year of investigations, ideas, and insights.

Subscribe

Support our journalism

Help Mother Jones' reporters dig deep with a tax-deductible donation.

Donate