Photo: Wikimedia Creative Commons
Former Speaker of the House Newt Gingrich is facing increasing criticism for his actions after he left office in 1999 — particularly over his “consulting” job with Freddie Mac.Bloomberg reported on Wednesday that Gingrich made over $1.6 million while working for the government-backed loan company, and POLITICO adds that he only left the job after the federal government was forced to take over the lender in 2008.
Sources inside the company told POLITICO that he was hired to advocate for the GSE model — or at least minimize Republican opposition. While he never registered as a lobbyist for the job, his work seems to indicate that it’s only a semantic distinction.
Additionally, The Washington Post is reporting that Gingrich’s think tank, “The centre for Health Transformation” brought in millions from the healthcare industry in exchange for access to Gingrich — and that it advocated for an individual mandate.
The Post reports that the mandate required that “anyone who earns more than $50,000 a year must purchase health insurance or post a bond.”
Gingrich was also a consultant for the Chamber of Commerce from 2001 to 2008 — bringing in about $120,000 a year, The Wall Street Journal reported today.
Taken together, these reports tarnish the anti-establishment image he has fought to show on the campaign trail — and that has captivated many in the Republican Party who are sceptical of Mitt Romney. And as Gingrich establishes himself in the top-tier, more of these stories are likely to come out.
NOW WATCH: Briefing videos
Business Insider Emails & Alerts
Site highlights each day to your inbox.