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Why Freddie Mac Could Hurt Newt Why Freddie Mac Could Hurt Newt

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Why Freddie Mac Could Hurt Newt

No one has lost a Republican primary by being rich. And I don't see how getting wealthy is going to harm Newt Gingrich. But his work for Freddie Mac could be especially troubling more so than the health care dough or the Tiffany splurges.

In the conservative/Republican narrative of the financial crisis much of the blame goes to the GSEs or government sponsored enterprises, Fannie Mae and Freddie Mac. Some place more blame on the Department of Housing and Urban Development's Fair Housing Goals. It's a fairly narrow view of the crisis. (See the report of the Financial Crisis Inquiry Commission where I worked and its dissent by Peter Wallison)  That's not the same thing as getting a check from or MSNBC but it could be something to explain to Republican primary voters.

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