New analyses by mortgage giants Freddie Mac and Fannie Mae have added an explosive new dimension to one of the most politically charged debates about the housing crisis: Whether to reduce the amount of money beleaguered homeowners owe on their mortgages.
Newt Gingrich practically glimpsed his own future in 1991, when he got mad at voters in a town hall and taunted, "If you want to fire me, I don't care," saying he'd make more money as a political consultant.
Newt Gingrich says he never did any lobbying for Freddie Mac, and, as proof, he pointed out in Monday's debate that he spoke to a lobbying expert who explained exactly how he could walk up to the line without crossing it.
Fannie Mae's CEO has said he'll step down as soon as the company finds a successor. He can afford a little downtime, considering he made about $5.6 million in 2010, according to his Forbes profile.
The Securities and Exchange Commission brought civil fraud charges against six former senior executives at Fannie Mae and Freddie Mac Friday, alleging that the employees understated the amount of subprime loans the mortgage giants held at the peak of the financial crisis.
Former House Speaker and current president candidate Newt Gingrich was paid between $1.6 and $1.8 million for his consulting work with semi-public mortgage company Freddie Mac, reports Bloomberg.
The federal regulator for Fannie and Freddy has filed over mortgage bonds
Banks stocks are getting killed
Misrepresented loans yield another batch of lawsuits, this time from a housing authority
The government-backed mortgage lenders are the first credit casualties of the downgrade
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