Newt's $300,000 Freddie Mac Contract
Republican presidential candidate and former House Speaker Newt Gingrich arrives with his wife Callista during a South Carolina Republican presidential primary night rally, Saturday, Jan. 21, 2012, in Columbia, S.C. (AP Photo/Paul Sancya) (AP Photo/Paul Sancya)
Under pressure from presidential rival Mitt Romney, the consultancy Newt Gingrich founded released a $300,000 contract The Gingrich Group signed in 2006 with the Federal Home Mortgage Corporation for "consulting and related services."
The contract made no mention of any lobbying services provided by Gingrich's organization, but the Freddie Mac executive named in the contract was public policy director Craig Thomas, himself a registered lobbyist.
Romney and his backers have attacked Gingrich for not being transparent about his relationship with the housing giant that played a central role in the housing crisis. And Monday's disclosure did little to reveal what role Gingrich did, in fact, play.
Freddie Mac paid the Gingrich Group up to $300,000 for the year, to "provide consulting and related services as requested by Freddie Mac's Director, Public Policy in exchange for which Freddie Mac will pay Consultant $25,000 per each full calendar month during which Consultant provides services," according to the 15-page contract.
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