With a nasty battle for South Carolina looming, an old vulnerability has resurfaced for GOP presidential contender Newt Gingrich--his ties to K Street.
According to a new Wall Street Journal report, Gingrich and his consulting companies provided financial-services giant Credit Suisse Group with exclusive Washington information and analysis, a claim that could call into question the former House speaker’s campaign argument that he has been an Washington outsider since leaving Congress in 1999.
The Journal reports that over the past few years, Gingrich gave Credit Suisse his analysis and predictions on key issues, such as health care and renewable energy, which the firm then used to help make stock recommendations to its investor clients. The Journal also says that Gingrich helped organize a conference call between Credit Suisse analysts and a top official at Gingrich’s health care consultancy, the Center for Health Transformation, as well as meetings with senior Republican policy aides.
Although this “political intelligence” business is technically legal, the Gingrich camp has a lot to lose by the claim that its candidate benefited financially from his Washington status.
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