The PJ Tatler

AP Assails Gingrich's Relationship with Freddie Mac

Enough with the anonymous sources, Associated Press.

In last Wednesday’s Republican presidential debate, Gingrich sought to explain his role at Freddie Mac as that of a “historian” sounding dire warnings about the company’s future. He said company officials told him “we are now making loans to people that have no credit history and have no record of paying back anything, but that’s what the government wants us to do.” He said his advice was to tell them, “this is insane.”

Former executives dispute Gingrich’s description of his role.

Four people close to Freddie Mac say he was hired to strategize with his employer about identifying political friends on Capitol Hill who would help the company through a very difficult legislative environment. All four spoke only on condition of anonymity to discuss the personnel matter freely.

Or, they’re speaking on condition of anonymity because they’re political operatives participating in a coordinated hit. Fannie and Freddie have been rife with Democrats for years. The Democrats used the GSEs as very lucrative holding pens for apparatchiks in waiting. Two of these people “close to Freddie Mac” could be Jamie Gorelick and Franklin Raines for all we know.